Zepto has taken another formal step towards its highly anticipated initial public offering (IPO) by gaining its shareholders approval for a proposal to raise up to INR 11,000 Cr via a fresh issue of shares via its public offering
The approval was granted at the company’s extraordinary general meeting held on December 23, 2025
The startup has also kept the option open to raise capital via a pre-IPO placement before filing its red herring prospectus
Quick commerce startup Zepto has taken another formal step towards its highly anticipated initial public offering (IPO) by gaining its shareholders approval for a proposal to raise up to INR 11,000 Cr via a fresh issue of shares via its public offering.
According to regulatory filings accessed by Inc42, the approval was granted at the company’s extraordinary general meeting held on December 23, 2025 . The IPO will include a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders.
The final size, timing and price of the issue will be decided later by Zepto’s board in consultation with its bankers. The startup’s shares would be listed on Indian stock exchanges, including BSE and NSE, post the completion of its IPO.
The startup has also kept the option open to raise capital via a pre-IPO placement before filing its red herring prospectus. If such a placement is completed, the size of the fresh issue will be reduced accordingly, as per the filing .
The move comes after a turbulent year for the Bengaluru-based startup, as it tries to reset its business and financials ahead of a potential listing.
Important to mention that Zepto was looking to undertake its IPO earlier this year, with internal plans to file draft papers in the April–June quarter. However, the startup eventually chose to raise a large private round instead, raising $450 Mn in September in a funding round led by US-based pension fund California Public Employees’ Retirement System (CalPERS).
After raising over $1 Bn in 2024, the quick commerce major entered a fresh hyper-growth phase, adding nearly 200 dark stores, expanding into smaller micro-markets and pushing new features to drive order frequency.
Cofounder and CEO Aadit Palicha had said the company clocked a gross order value of $3 Bn in December last year, which rose to $4 Bn by April, fuelling expectations of an imminent IPO filing.
Notably, Zepto is now preparing to file IPO papers through the confidential route soon and is targeting a listing window between July and September 2026.
In FY25, Zepto reported revenue of INR 11,110 Cr, though the company has yet to file audited financial statement for the fiscal. Unlike Blinkit and Instamart, Zepto’s revenue does not fully reflect inventory-led sales.
It holds a significant share in India’s quick commerce market, generally ranked second or third behind market leader Blinkit, with estimates placing Zepto’s share around 23-27%, often competing closely with Instamart.
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