Zepto is pursuing a domestic listing as investors assess whether better unit economics can offset heavy cash burn. The company has filed confidentially with the Securities and Exchange Board of India, or Sebi. The initial public offering reportedly worth about US$1.3 billion.

Zepto’s adjusted EBITDA loss was about 50 billion rupees (US$530 million) in FY26.

The loss is larger than Instamart’s 35 billion rupees (US$371 million) and Blinkit’s 2.8 billion rupees (US$29.4 million). However, Zepto’s per-order losses narrowed to 79 rupees (US$0.84) from 136 rupees (US$1.4).

Competition remains intense. Data showed the top three quick-commerce players ended FY26 with 4,525 dark stores. Flipkart plans to double its network of more than 800 dark stores by the end of 2026, while Amazon has rolled out about 450 to 500 so far.

🔗 Source: The Economic Times

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