India’s quick-commerce startup Zepto has reportedly received SEBI approval for its upcoming IPO. The company is expected to raise around $1.2 billion through the public issue, which could launch later this year depending on market conditions, reports The Economic Times.
The issue is expected to include both a fresh issue of shares and an offer-for-sale component by existing investors. While the fresh issue will inject new capital into the company for expansion and operations, the OFS portion will allow some early investors to partially exit or reduce holdings after years of aggressive funding rounds. The IPO is likely to be launched between July and September 2026, though final timing will depend on broader market conditions.
Zepto formally began its IPO journey in late December 2025 when the company confidentially filed its Draft Red Herring Prospectus (DRHP) with SEBI. Through this confidential filing route, the Aadit Palicha-led company sought approval for a proposed ₹11,000-12,000 crore IPO. At the time of filing, Zepto was valued at around $7 billion following its $450 million funding round in October 2025, and reports suggested the company had cash reserves of nearly ₹7,000 crore on its balance sheet.
Notably, the company has raised more than $2.3 billion from investors so far. And backers include major global investment firms and venture capital funds like General Catalyst, Lightspeed, Y Combinator, StepStone Group, and others.
Financially, Zepto has scaled at a pace rarely seen in India’s startup ecosystem. According to reported FY25 figures, the company’s total income surged to around ₹9,668.76 crore, more than doubling from ₹4,223.91 crore in FY24. That represents year-on-year growth of nearly 129%.
However, the company’s losses have also widened sharply. Zepto reportedly posted a net loss of around ₹3,367 crore in FY25, compared with losses of about ₹1,214 crore in the previous fiscal year. The widening losses are largely linked to the company’s aggressive expansion strategy, including the rapid rollout of dark stores, logistics infrastructure, and heavy spending on customer acquisition and discounts.
Zepto’s listing is being closely watched because it could become the first pure-play quick-commerce IPO in India. Unlike Swiggy and Eternal (Zomato), which operate broader food-tech and delivery ecosystems, Zepto’s business is almost entirely centered on ultra-fast delivery.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
