The quick commerce firm has filed its updated draft prospectus with Sebi, proposing a fresh issue of Rs 8,010 crore and an offer for sale by existing investors
Quick commerce company Zepto has filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (Sebi), moving a step closer to what could become the country’s first pure-play quick commerce initial public offering (IPO).
According to the filing released on Monday, the proposed public issue comprises a fresh issue of equity shares worth Rs 8,010 crore and an offer for sale (OFS) of up to 113.47 million equity shares by existing shareholders. The IPO is expected to raise around Rs 10,000 crore.
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.
As per the prospectus, Nexus Ventures VI Holdings owns an 8.57 per cent stake in the company, while Nexus Ventures VII Holdings holds 4.55 per cent. Contrary ZEP Holdings and Razor Ventures Zepto own 1.13 per cent and 1.14 per cent stakes, respectively.
The Bengaluru-based company plans to deploy the proceeds from the fresh issue towards expanding its dark store network, strengthening technology infrastructure and supporting growth initiatives.
Of the total proceeds, Rs 1,628.9 crore has been earmarked for setting up new dark stores, while Rs 1,734.9 crore will be used towards lease and licence payments for existing facilities. The company has also allocated Rs 1,324.7 crore towards technology and cloud infrastructure.
In addition, Zepto plans to invest Rs 520 crore in its subsidiary, Zepto Marketplace Private Limited, to enhance brand visibility and marketing efforts. The company said a portion of the proceeds would also be utilised for inorganic growth opportunities and general corporate purposes.
Zepto had initially filed its draft papers through Sebi’s confidential pre-filing route in December 2025 and received regulatory observations in May this year.
The filing comes as the company continues to record strong growth amid rising consumer adoption of rapid grocery delivery services.
Revenue from operations increased 75.2 per cent year-on-year to Rs 7,497.6 crore in the quarter ended 31 March 2026, compared with Rs 4,278 crore in the corresponding period a year earlier.
For FY26, operating revenue more than doubled to Rs 22,623.5 crore from Rs 11,109.9 crore in FY25.
The company’s quarterly loss narrowed to Rs 1,538.6 crore during the March quarter from Rs 1,831.9 crore a year earlier. However, its full-year loss widened to Rs 5,905.1 crore in FY26 from Rs 4,699.7 crore in FY25.
Zepto’s net receivables value of goods and services sold through its platform rose sharply to Rs 24,815.5 crore in FY26 from Rs 5,231.7 crore in FY24.
The company processed 210 million orders during the March quarter, up from approximately 166.9 million orders in the preceding quarter. As of the end of FY26, it operated 1,139 dark stores and served nearly 47.9 million annual transacting users.
The IPO is being managed by 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.
