BAJAJ FINSERV DIRECT LIMITED
IPO-Insights

Zepto IPO Updates

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Geetanjali Lachke

Table of Contents

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.

Zepto IPO Filing (DRHP)

The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.

Filing Overview:

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.

Issue Structure:

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.

About the Company

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.

IPO Objectives

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

Financial Highlights

Zepto has experienced significant growth, driven by a surge in customer acquisition and transaction volumes. 

Key Financial Metrics (as disclosed in DRHP)

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.

Zepto IPO Timeline Summary

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.

Disclaimer

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 

FAQs on Renny Strips IPO

When did Zepto file its DRHP?

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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Hi! I’m Geetanjali Lachke
Financial Content Specialist

Geetanjali is an emerging content writer with a passion for writing and marketing. She focuses on crafting clear, engaging blog posts and articles that simplify complex topics, particularly in finance and business. Geetanjali is dedicated to delivering insightful content that helps readers understand and navigate critical concepts, empowering them to make informed decisions and stay ahead in the ever-evolving landscape of finance and business.

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