India-based quick-commerce firm Zepto is preparing to raise about 10 billion rupees (US$104 million) in a pre-initial public offering round at roughly a US$4.5 billion valuation, below the US$7 billion valuation it commanded in October 2025.

The company has also delayed an IPO that sources said had earlier been targeted for July 2026.

Domestic investors are expected to lead the round as Zepto seeks to raise Indian shareholding from about 40%. That structure can let Indian-owned and controlled quick-commerce companies run inventory-led operations under India’s foreign direct investment rules.

Zepto confidentially filed preliminary IPO papers in December 2025.

According to updated draft papers filed with the Securities and Exchange Board of India (Sebi), the IPO is set to include a 80.1 billion rupees (US$837 million) fresh issue and an offer for sale of 11.35 crore shares.

🔗 Source: YourStory

Recent Zepto developments