Quick commerce major Zepto has received approval from the Securities and Exchange Board of India (SEBI) for its much-anticipated initial public offering (IPO), according to media reports.
The Aadit Palicha-led company is aiming to raise around $1.2-1.3 billion (Rs 10,000-12,000 crore) through the offering, which is expected to include a mix of fresh issues and an offer for sale (OFS) by early investors. The approval follows its confidential filing route, allowing the company to fine-tune its issue structure and timing without publicly disclosing sensitive financial details.
The Arc reported the development first.
Founded in 2021 by Palicha and Kaivalya Vohra, Zepto has emerged as one of the fastest-growing players in the quick commerce segment, competing with platforms such as Blinkit and Swiggy Instamart.
Zepto was last valued at around $7 billion following a $450 million funding round in 2025 and has raised over $2.3 billion to date. Its IPO, expected in the July-September 2026 window, will be closely tracked as a benchmark for the quick commerce sector.
Financially, for the year ended March 2025, the company reported total income of Rs 9,668.76 crore, more than doubling from Rs 4,223.91 crore in FY24. However, its net loss widened to Rs 3,367.28 crore in FY25 from Rs 1,214.67 crore in the previous fiscal year.
On the dark store front, competition remains intense. Blinkit is expected to scale beyond 2,100 dark stores by December 2025, while Swiggy Instamart and Zepto had 1,136 and 1,150 dark stores, respectively, as of December 2025. Meanwhile, Flipkart is targeting over 1,500 quick commerce dark stores by 2026, while Amazon has expanded its network to around 450-500 stores.