Quick commerce platform Zepto is reportedly expanding its planned IPO to between US$800 million and US$1 billion, according to sources.

The revised IPO will include US$300 million to US$400 million from secondary share sales and increased primary capital through new share issuance.

Initially, the company aimed to raise US$450 million in mid-2024.

CEO Aadit Palicha has been engaging with major mutual funds regarding the public listing.

Goldman Sachs and Morgan Stanley are leading the IPO efforts, with more banking partners expected.

Zepto has expanded its dark store network to over 900 locations, exceeding its March 2025 goal of 700, and plans to reach 1,000 stores.

The company has raised significant funds, including a US$350 million round in November 2024, bringing its cash reserves to US$1.4 billion.

Recent Zepto developments