Quick commerce company Zepto has filed an updated draft red herring prospectus (UDRHP) with the (SEBI) for its proposed initial public offering (IPO), comprising a fresh issue of shares worth ₹8,010 crore and an offer-for-sale (OFS) by existing investors.
According to the filing, the company proposes to issue up to 1,60,20,000 equity shares of face value of ₹5 each through the fresh issue, aggregating up to ₹8,010 crore. Existing shareholders including Nexus Ventures VI Holdings, Nexus Ventures VII Holdings, Contrary ZEP Holdings, Razor Ventures Zepto, Kaiser Foundation Hospitals and Kaiser Permanente Group Trust, will participate in the OFS. The final size of the OFS will be determined closer to the launch of the issue.
The Bengaluru-based company said it intends to use the net proceeds from the fresh issue primarily to expand its dark store network across existing and new markets. Funds will also be deployed for lease and licence fee payments for existing dark stores, technology and cloud infrastructure investments, marketing and advertising initiatives, as well as potential inorganic acquisitions and strategic investments.
The filing comes as Zepto continues its rapid expansion in India’s fast-growing quick commerce market, where it competes with rivals such as Blinkit, Swiggy Instamart and BigBasket.
Financially, Zepto reported strong revenue growth but continued to remain loss-making as it scaled operations aggressively. Revenue from operations nearly doubled to ₹11,110 crore in FY26 from ₹5,453 crore in FY25. However, its losses widened to ₹5,910 crore in FY26 from ₹4,701 crore a year earlier, reflecting continued investments in customer acquisition, dark-store expansion and supply-chain infrastructure.
The company has rapidly expanded its footprint over the past two years, increasing its dark store count from 337 stores across 11 cities in FY24, to more than 1,100 stores across 66 cities by FY26.
Zepto is expected to be among the largest new-age technology listings in India this year and joins a growing list of venture-backed consumer internet companies tapping public markets amid improving investor appetite for technology and digital businesses.
Axis Capital, Morgan Stanley India, Goldman Sachs (India) Securities, Motilal Oswal Investment Advisors, HSBC Securities and Capital Markets (India), JM Financial and IIFL Capital Services are the book-running lead managers to the issue.