India's first standalone quick commerce IPO is drawing significant investor interest. Zepto's Rs 9,500 crore public issue comprises a fresh issue of Rs 8,010 crore and an offer for sale (OFS) of 113 million shares by existing shareholders. The five-year-old company confidentially filed its draft papers with Sebi in December 2025 and received regulatory approval in May. Here are 8 key things to know about the upcoming IPO.
Zepto IPO size:
Zepto's public issue is valued at Rs 9,500 crore. The offering consists of a fresh issue of shares worth Rs 8,010 crore and an offer for sale (OFS) of 113 million shares by existing shareholders.
Key selling shareholders:
The OFS will primarily be driven by early investors, with Nexus Venture Partners emerging as the largest selling shareholder. Other investors participating in the OFS include Contrary ZEP Holdings LLC, which will sell up to 78 lakh shares, Razor Ventures Zepto LLC with up to 94 lakh shares, Kaiser Foundation Hospitals with up to 44 lakh shares, and Kaiser Permanente Group Trust with up to 42 lakh shares.
Expected listing timeline:
While the company has not officially announced a listing date, sources indicate that Zepto is targeting a market debut in July. Upon listing, it will become the third quick commerce player in the public markets after Blinkit parent Eternal and Instamart parent Swiggy. It will also be the first standalone quick commerce company to list on Indian exchanges.
Financial performance:
Zepto reported operating revenue of Rs 7,498 crore for the January-March quarter, marking a 75% year-on-year increase. The company's net loss narrowed to Rs 1,539 crore from Rs 1,832 crore in the corresponding period last year. During the quarter, Zepto processed 210 million orders, compared with 274 million orders for Blinkit and 113 million orders for Instamart.
Utilisation of IPO proceeds:
The company plans to use the fresh issue proceeds to expand its dark store network across existing and new markets and fund lease rentals for current facilities. As of March 31, Zepto operated 1,139 dark stores. The proceeds will also be used for investments in technology and cloud infrastructure, as well as marketing and business promotion activities.
Lead managers to the issue:
Registrar to the issue:
Kfin Technologies has been appointed as the registrar for the IPO and will oversee investor applications, share allotment, and other related processes.
Regulatory disclosure:
The updated DRHP disclosed that founders Aadit Palicha and Kaivalya Vohra were summoned by the Enforcement Directorate in April 2026 in connection with matters relating to the Foreign Exchange Management Act (FEMA).
