Zepto Files Confidential IPO Papers, Eyes Market Debut in 2026?

Quick commerce operator Zepto Ltd has confidentially filed its draft red herring prospectus (DRHP) for an initial public offering (IPO), according to a regulatory filing on Saturday. 

The confidential route allows companies to submit draft documents to the market regulator without making them public, offering flexibility to refine disclosures and issue structure before a formal launch.

As per CNBC-TV18 reports, Zepto is targeting a market debut between July and September 2026. The company is said to be working with a consortium of investment banks, including Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities, and Motilal Oswal, as book running lead managers for the proposed offering.

About the Company and Market Position

Founded by Aadit Palicha and Kaivalya Vohra, Zepto operates in India’s fast-growing quick commerce segment and competes with players such as Swiggy’s Instamart, Eternal, Blinkit, JioMart, and BigBasket. The sector has witnessed intense competition, rapid scale-up, and heavy investments as companies focus on faster deliveries and deeper market penetration.

Zepto’s last fundraise in October 2025 valued the company at around $7 billion. The firm raised $450 million in that round, led by US-based pension fund CalPERS, reinforcing investor confidence in the long-term potential of quick commerce in India.

Financial Performance and Growth Trends

At the end of FY25, Zepto reported a sharp rise in revenue to ₹11,109 crore, compared with ₹4,498 crore in FY24. However, the company’s net loss widened nearly three-fold to ₹3,367 crore from ₹1,249 crore in the previous year.

User Growth and Competitive Momentum

Zepto has also shown strong traction on the user front. For the week ending December 15, the platform added 1.2 million weekly active users, the highest week-on-week increase recorded by the company, according to a CLSA note in the CNBC-TV18 report. In comparison, Blinkit and JioMart added 0.4 million users each, while Swiggy Instamart and BigBasket added about 0.3 million users each.

Also Read: India's 2025 IPO Fundraising Hits ₹1.6 Lakh Crore!

Conclusion

With rapid revenue growth, rising user adoption, and a confidential IPO filing now in place, Zepto appears to be positioning itself for a major public market debut. As per CNBC-TV18 reports, the coming months will be crucial as the company balances growth ambitions with profitability expectations ahead of its planned 2026 listing.

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