MUMBAI: Quick commerce player Zepto on Monday filed its updated draft IPO papers with markets regulator Sebi, taking it a step closer to its public listing targeted sometime in July. The startup is seeking to raise up to Rs 8,010 crore through a fresh issue of shares. A bunch of the company's existing investors, including Nexus Venture Partners and Contrary, are collectively selling up to 11.3 crore shares in the IPO.
IPO Size and Valuation
Zepto's total issue size is estimated at $1 billion (Rs 9,000-9,500 crore). The company, which competes with Eternal's Blinkit and Swiggy's Instamart, is targeting a valuation of about $10 billion, according to people aware of the matter. The startup, last valued at $7 billion, had filed for IPO through the confidential route in December last year.
Market Position
The instant delivery market is led by Blinkit with over 40% share, while Instamart and Zepto command over 20% each, analysts said. Zepto's move to go public comes amid a surge in quick commerce demand, with the company aiming to leverage the capital for expansion and strengthening its market position.
The updated draft papers include financial details and business updates, reflecting Zepto's growth trajectory. The company has been expanding its dark store network and delivery capabilities to compete effectively. With the IPO, Zepto seeks to capitalize on investor interest in the booming quick commerce sector in India.
