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Learn about Zepto's Draft Red Herring Prospectus (DRHP) filing, business operations, financial context, and the proposed utilisation of funds as outlined in public disclosures.
Zepto, a player in the quick commerce and online grocery delivery segment, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). This filing marks a key milestone in Zepto's journey to raise capital and support its expansion in the market in ultra-fast delivery services across major Indian cities.
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
The DRHP provides an in-depth overview of the company's operations, offer structure, and strategic objectives. The proposed offering includes a fresh issue of equity shares, along with an offer for sale (OFS) by existing shareholders and investors. The equity shares are proposed to be listed on the NSE and BSE, subject to regulatory clearances.
The DRHP outlines the key components of the Zepto IPO:
| Particulars | Details |
|---|---|
Issue Type |
Fresh issue of equity shares (100% fresh issue; no offer for sale component) |
Face Value |
₹1 per equity share |
Issue Size |
To be finalised post-price discovery in the Red Herring Prospectus (RHP) |
Proposed Listing |
NSE and BSE |
Price Band |
To be determined in the RHP |
Book Running Lead Manager |
To be finalised |
Registrar to the Issue |
To be finalised |
Remarks |
These disclosures are indicative at the DRHP stage and may change based on SEBI observations and final approvals |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
Zepto operates in India's rapidly expanding quick commerce sector, specialising in ultra-fast delivery of groceries, fresh produce, packaged foods, personal care products, and household essentials. Through its on-demand delivery platform, Zepto targets delivery within 10-15 minutes, using a network of strategically located dark stores (micro-fulfillment centers) in major metropolitan areas. This infrastructure enables Zepto to support demand for immediate delivery of daily essentials.
The company’s platform is powered by proprietary technology infrastructure for order management, inventory optimisation, logistics coordination, and last-mile delivery, supporting Zepto’s operations and service capabilities in India’s ultra-fast delivery segment.
The proceeds from the IPO will primarily be utilised for:
| Objective | Purpose / Use of Proceeds |
|---|---|
Capital Expenditure |
Establishment of new dark stores and fulfilment centres in existing and new geographic markets |
Technology Development |
Investment in technology infrastructure to support platform scaling, improve user experience, and develop AI and ML capabilities for demand forecasting and inventory management |
Working Capital Requirements |
Funding inventory procurement and supporting scaling operations |
Debt Repayment |
Potential repayment of outstanding debt to optimise the capital structure |
General Corporate Purposes |
Strengthening operational flexibility and capacity for continued growth |
Zepto has experienced significant growth, driven by a surge in customer acquisition and transaction volumes.
Below is a simplified snapshot of the company’s key financials (as disclosed in the DRHP):
| Fiscal Year / Period | Revenue (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) | Key Highlights |
|---|---|---|---|---|
FY24 |
As per DRHP |
As per DRHP |
As per DRHP |
Detailed financials in DRHP filing |
FY25 |
As per DRHP |
As per DRHP |
As per DRHP |
Full audited financial statements in official prospectus |
H1 FY26 |
As per DRHP |
As per DRHP |
As per DRHP |
Interim performance reflected in DRHP |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.
Below is a summary of the IPO process:
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
December 2025 |
Draft Red Herring Prospectus filed; public disclosures available. |
SEBI observations |
Awaited |
SEBI to provide observations on DRHP filing. |
SEBI approval for the IPO |
Awaited |
Expected post-DRHP review; valid for 12 months from approval date. |
Red Herring Prospectus (RHP) |
Awaited |
Price band to be filed post-SEBI approval. |
IPO Opening Date |
Not yet announced |
Final dates awaited from company / merchant bankers. |
IPO Closing Date |
To be announced |
To be announced following official notification. |
Allotment of Shares |
To be announced |
After closing, following the bidding process. |
Listing on BSE/NSE |
To be announced |
Expected on both exchanges after allotment and listing formalities. |
Note: Investors should refer to official filings for final IPO dates to learn more about Zepto IPO listing details and price, and listing timelines.
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
Zepto filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in December 2025, officially commencing the regulatory process for launching its initial public offering (IPO) in the Indian capital markets.
The total issue size of Zepto’s upcoming IPO will be finalised after the price discovery process, with complete details to be formally disclosed in the Red Herring Prospectus (RHP) filed before the public offering.
Zepto’s IPO will feature a combination of a fresh issue of new equity shares and an offer for sale (OFS) by existing shareholders, with the exact structure and allocation to be specified in the final RHP.
Zepto intends to utilise the IPO proceeds for expanding its network of dark stores, advancing technology infrastructure, enhancing working capital, repaying outstanding debt, and addressing broader corporate requirements to sustain long-term growth.
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Posted on 19 Dec
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