Quick commerce firm Zepto has reportedly received an in-principle nod from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), according to media reports.
The Aadit Palicha-led quick commerce giant is aiming to raise between $1.2 billion and $1.3 billion or about Rs 12,000 crore. The offering is expected to include a mix of fresh share issuance and an offer for sale by early investors.
The approval follows a confidential filing route, which allows firms to adjust the timing and structure of an IPO without disclosing detailed financial information publicly at an early stage.
Founded in 2021 by Palicha and Kaivalya Vohra, Zepto has rapidly grown into a major player in India's quick commerce market, competing with rivals such as Blinkit and Swiggy Instamart.
The company was last valued at around $7 billion following a $450 million funding round in 2025, and has raised more than $2.3 billion in total. Its IPO, expected between July and September 2026, is likely to be closely watched as a benchmark for the fast-growing sector.
Financial results highlight both strong growth and continued losses. For the year ending March 2025, Zepto reported total income of Rs 9,668.76 crore, more than double the Rs 4,223.91 crore recorded the previous year. However, its net loss widened significantly to Rs 3,367.28 crore, compared with Rs 1,214.67 crore in FY24.
Competition in the sector remains intense, particularly in the expansion of 'dark stores', small fulfilment centres used to enable rapid deliveries. Blinkit is expected to exceed 2,100 such stores by December 2025. Swiggy Instamart and Zepto operated 1,136 and 1,150 stores respectively as of the same period.