Zepto Files Confidential IPO Papers With Sebi to Raise Rs 11,000 Crore

Quick commerce unicorn Zepto has filed preliminary papers with the markets regulator Securities and Exchange Board of India to raise Rs 11,000 crore through an initial public offering, according to people familiar with the development.

The company has opted for the confidential pre-filing route and is targeting a stock market listing sometime next year, a move that could make it one of the youngest startups to debut on Indian stock exchanges.

Confidential Pre Filing Route Explained​

Zepto has submitted a pre-filed draft red herring prospectus to Sebi and the stock exchanges in relation to the proposed IPO of its equity shares on the main board. The confidential route allows companies to seek initial regulatory feedback without making the draft offer document public.

This approach has gained traction among issuers as it provides greater flexibility to fine tune offering structures and respond to market conditions before proceeding with a full public filing.

Joining Listed Peers in Quick Commerce​

If the IPO materialises, Zepto will join listed peers such as Zomato and Swiggy, both of which operate quick commerce platforms. Zomato owner Eternal was listed in 2021, while Swiggy made its stock market debut in November 2024.

Strong Private Funding Backdrop​

The proposed public market move follows strong backing from private investors. Zepto is currently valued at USD 7 billion and has raised a total of USD 1.8 billion, or about Rs 16,000 crore, since inception.

In October 2025, the company raised USD 450 million, equivalent to about Rs 3,757.5 crore, in a funding round led by California Public Employees' Retirement System at the same USD 7 billion valuation.

Growth Metrics and Operating Scale​

Zepto attained unicorn status in August 2023 after securing USD 200 million in its Series E funding round, which valued the company at USD 1.4 billion.

Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, the startup rapidly scaled its 10 minute grocery delivery model across major Indian cities.

As of September 2025, Zepto operated more than 900 dark stores. During the same period, the company burned Rs 1,000 to 1,100 crore in cash and recorded gross sales of USD 3 billion, or roughly Rs 26,000 crore.

The IPO filing marks a significant milestone in Zepto’s journey as it evaluates a transition from private funding to the public markets amid continued expansion in India’s fast growing quick commerce segment.