Zepto share price is not yet listed, but the quick commerce player has moved a step closer to its stock market debut after filing its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI). The proposed IPO is expected to be around ₹10,000 crore, making it one of the most closely watched new-age listings in India’s digital commerce space.
The proposed initial public offering comprises a fresh issue of equity shares worth ₹8,010 crore and an offer for sale (OFS) by existing investors. The OFS includes up to 11.35 crore equity shares of face value ₹5 each.
Existing investors participating in the OFS include Nexus Ventures VI Holdings, Nexus Ventures VII Holdings, Contrary ZEP Holdings, Razor Ventures Zepto, Kaiser Foundation Hospitals, and Kaiser Permanente Group Trust. Nexus Ventures VI holds 8.57% stake, while Nexus Ventures VII holds 4.55%. ZEP Holdings and Razor Ventures Zepto hold 1.13% and 1.14% respectively.
Zepto plans to deploy the proceeds from the fresh issue toward expansion and infrastructure strengthening. A significant portion will be allocated to building its dark store network across new and existing geographies.
Key allocations include:
₹1,628.9 crore for new dark store expansion
₹1,734.9 crore for lease rentals of existing dark stores
₹1,324.7 crore for technology and cloud infrastructure
₹520 crore for marketing and brand-building via Zepto Marketplace Private Limited
The company also plans to pursue inorganic growth opportunities and general corporate purposes.
The Bengaluru-headquartered firm had initially filed its draft papers in December 2025 through the confidential route, allowing it to keep details undisclosed. It received SEBI approval in May 2026, clearing the way for its public market debut preparations.
The IPO is being managed by leading investment banks, including Motilal Oswal Investment Advisors, Morgan Stanley India Company, Goldman Sachs (India) Securities, JM Financial, IIFL Capital Services, HSBC Securities and Capital Markets (India), and Axis Capital.
Zepto reported revenue growth in FY26, while losses remained elevated.
Revenue from operations rose 75.2% YoY to ₹7,497.6 crore in Q4 FY26 compared with ₹4,278 crore in Q4 FY25. On an annual basis, revenue more than doubled to ₹22,623.5 crore in FY26 from ₹11,109.9 crore in FY25.
Q4 FY26 losses were ₹1,538.6 crore versus ₹1,831.9 crore in Q4 FY25, down around 16% YoY. Full-year losses rose to ₹5,905.1 crore from ₹4,699.7 crore in FY25, up about 25.6% YoY.
Zepto’s operating scale expanded across key metrics.
Net Receivables Value increased from ₹5,231.7 crore in FY24 to ₹24,815.5 crore in FY26, a rise of around 374%. Total orders in Q4 FY26 stood at 210 million compared with 166.9 million in the previous quarter, up about 25.8% QoQ.
The store network expanded to 1,139 dark stores as of March 31, 2026, versus 1,029 in FY25, while annual transacting users increased to 47.9 million in FY26 from 38.38 million in FY25.
Zepto’s IPO filing with SEBI marks a key step toward its planned public listing, with the issue comprising a ₹8,010 crore fresh issue and an offer for sale by existing investors. The company has reported continued expansion in revenue, alongside elevated losses on both quarterly and annual basis. The IPO proceeds are proposed to be used for expanding dark stores, lease rentals, technology infrastructure, and marketing activities, along with funding for inorganic growth and general corporate purposes.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jun 9, 2026, 11:27 AM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
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