Zepto Delays IPO, Plans ₹1,000 Crore Pre-IPO Fundraise At $4.5 Billion Valuation

Quick-commerce platform Zepto has put its proposed initial public offering on hold and is set to raise approximately ₹1,000 crore through a pre-IPO funding round, according to people familiar with the development. The funding is expected to value the company at around $4.5 billion, lower than the valuation it achieved during its previous fundraising round.

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The proposed capital raise is expected to be led largely by domestic investors as the company looks to increase Indian ownership. At present, Indian shareholders hold around 40% of Zepto’s equity, according to people aware of the matter. The company has not officially commented on the development.

Fresh Funding To Increase Domestic Shareholding

The latest fundraising exercise is aimed at bringing in additional domestic capital ahead of the company’s public listing. The planned IPO, which had earlier been targeted for July 2026, has now been deferred, according to people familiar with the matter.

The proposed valuation of $4.5 billion represents a reduction from the $7 billion valuation at which the company raised $450 million in October 2025. That funding round was led by the California Public Employees’ Retirement System (CalPERS).

IPO Plans Remain In Place

Zepto had filed its draft IPO papers with the Securities and Exchange Board of India (SEBI) through the confidential pre-filing route in December 2025.

According to the updated draft documents submitted to the regulator, the company plans to raise ₹8,010 crore through a fresh issue of equity shares. The proposed public issue also includes an offer for sale (OFS) of 11.35 crore equity shares by existing investors.

If listed, Zepto will join Eternal and Swiggy on the domestic stock exchanges, where it will compete with their quick-commerce businesses, Blinkit and Instamart.

Business Performance

The company reported ₹22,624 crore in revenue from operations during FY26, while its net receivables value (NRV) stood at ₹24,816 crore, according to its regulatory filings.

Zepto handled an average of 17.5 lakh orders on a daily basis during the financial year, and it has a presence of 1,139 stores as on March 31, 2026. Its customer base for the year consists of almost 48 million transacting customers.

For the quarter ended March 2026, the total number of orders placed is close to 210 million, which translates to an average of 23.3 lakh orders per day.

Shift Of Focus Towards Fund Raising

The fund raising exercise before its IPO is in line with the company’s preparation for its upcoming public offering.The fresh capital is expected to support the company’s ongoing expansion plans and increase domestic ownership before the IPO process resumes. The company has not announced a revised timeline for its stock market debut.