Zepto plans Rs 11,000-crore IPO as quick-commerce race intensifies: Report

Quick-commerce firm Zepto, which is preparing for a listing on Indian stock exchanges, is reportedly planning to raise up to Rs 11,000 crore through its initial public offering.

According to a report by Entrackr, Zepto’s board has approved a proposal to raise the amount through a combination of a fresh equity issue and an offer for sale (OFS) by existing shareholders. Storyboard18 could not independently verify the information.

The reported IPO plans come amid a sharp surge in the company’s scale and losses. Zepto’s turnover, including other income, rose to Rs 9,668.76 crore in FY25, more than doubling from Rs 4,223.91 crore in FY24, the report said. However, the company’s net loss widened to Rs 3,367.28 crore in March 2025, compared with Rs 1,214.67 crore in the previous financial year, reflecting continued heavy spending on growth and expansion.

The Bengaluru-based company’s public market ambitions follow an aggressive fundraising run over the past 18 months, during which it has raised close to $2 billion from global investors. In October, Zepto secured about $450 million (around Rs 4,000 crore) in a funding round led by California Public Employees’ Retirement System (CalPERS) and General Catalyst.

That round pushed Zepto’s valuation to approximately $7 billion, cementing its position among India’s most valuable consumer internet startups.

Zepto operates in an intensely competitive quick-commerce market alongside Zomato-owned Blinkit, Swiggy Instamart, Tata Group–owned BigBasket, Flipkart Minutes and Amazon Now. Blinkit currently leads the market, while Instamart and Zepto have been alternating between the second and third positions.

According to a Moneycontrol report, Blinkit, Swiggy and Zepto together are sitting on more than Rs 40,000 crore in cash, which is being deployed to accelerate dark-store expansion and bolster last-mile delivery infrastructure across major urban centres.