Zepto And PhonePe Begin IPO Roadshows Amid Market Volatility: Moneycontrol Report

Consumer technology companies Zepto and PhonePe have started engaging with foreign institutional investors as part of preparations for their planned initial public offerings, according to a report by Moneycontrol, citing people familiar with the matter.

The meetings are taking place at a time when financial markets are facing a volatile phase due to the escalation of the conflict in West Asia. According to the Moneycontrol report, the companies have held discussions with investors across several international financial centres.

Sources cited in the report said investor meetings have taken place in Singapore, Hong Kong, the United Kingdom, and the U.S., with additional discussions expected to continue in the coming days.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

IPO Timelines Under Consideration

According to the Moneycontrol report, both companies are considering launching their public offerings around May or June, depending on prevailing market conditions.

One person cited in the report said Zepto is targeting June for its IPO launch as the company continues investor outreach to assess demand. The discussions with institutional investors are aimed at evaluating market appetite before the companies formally open their public offerings.

The proposed IPOs of Zepto IPO and PhonePe IPO are expected to exceed ₹10,000 crore each, according to the report. However, the final fundraising size and timelines will depend on market conditions closer to the launch.

PhonePe has already received approval for its IPO from the Securities and Exchange Board of PhonePe has already obtained approval for its IPO from the Securities and Exchange Board of India. On the other hand, Zepto is still awaiting regulatory approval for its IPO, as per the report.

Investor Meetings Continue Despite Global Tensions

The ongoing conflict in West Asia has disrupted some of the shipping routes for the transportation of crude oil, natural gas, and other commodities. According to a report by Moneycontrol, the West Asia conflict has created a volatile situation in the world’s financial markets.

Sources cited in the report said investors remain willing to hold discussions with companies despite the geopolitical developments.

According to the report, Gulf-based investors represent a relatively small share of participation in Indian IPOs. Most interactions with investors from that region are conducted through virtual meetings rather than in-person roadshows.

IPO Market Activity Amid Market Decline

The Indian stock market has declined since the start of the year. According to exchange data cited in the Moneycontrol report, the benchmark BSE Sensex closed at 76,034.42 on March 12, falling 1.08% during the trading session.

Market volatility has also affected activity in the primary market. Several companies have launched public offerings since the West Asia conflict began on February 28.

According to the report, manpower and toll management services provider Innovision Limited extended the closing date of its ₹322.8 crore IPO to March 17 and lowered the price band after receiving limited investor response.

Similarly, the ₹255 crore IPO of Rajputana Stainless Limited closed on March 11 with a subscription of 1.12 times the shares offered. Earlier, Sedemac Mechatronics closed its ₹1,087 crore IPO on March 6 with a subscription of 2.68 times.

Despite volatility in global markets, companies including Zepto and PhonePe have continued investor outreach as part of preparations for their planned stock market listings, according to the Moneycontrol report.