Zepto files billion‑dollar IPO as it becomes India’s second‑largest quick‑commerce player

Indian quick‑commerce startup Zepto has filed for an initial public offering that could raise up to ₹8,010 crore (about $1 billion) and value the company near $1 billion. The prospectus shows the firm plans a fresh issue of up to 1.6 million equity shares, with an overall offer‑for‑sale that could push the total IPO size to ₹9,000‑10,000 crore. Proceeds are earmarked for expanding its dark‑store network, upgrading cloud infrastructure, marketing and possible acquisitions.

Zepto’s order volume now ranks second in the sector, overtaking Swiggy’s Instamart and trailing only Blinkit. Net order value for FY 26 reached ₹7,591 crore, and the company processed more than 640 million orders, serving nearly 48 million users. Advertising revenue has surged, climbing from ₹49 crore in FY 24 to ₹1,636 crore in FY 26, making ads a major income source.

Despite rapid growth, Zepto remains loss‑making, reporting a net loss of ₹59.1 billion in FY 26. The filing also notes that the founders were summoned by India’s Enforcement Directorate earlier in the year for queries about foreign investment and shareholding structure, but no further action has been reported.