Zepto IPO details secondary share sale, founder summons and massive fundraise

Zepto’s draft prospectus shows a Rs 577 crore secondary share transaction in which Motilal Oswal bought shares from early investors, while the promoter group retains roughly 19.6 % of the company. The filing also discloses that founders Aadit Palicha and Kaivalya Vohra were summoned by India’s Enforcement Directorate for questioning under the Foreign Exchange Management Act.

The company plans to raise up to Rs 8,010 crore through a fresh issue, positioning the offering as one of India’s most watched startup IPOs. Zepto’s business model relies on a network of over 1,100 "dark stores" across 66 cities, delivering groceries within minutes. Revenue has surged from ₹4,454 crore in FY24 to ₹22,624 crore in FY26, but losses widened to ₹5,905 crore in FY26. Margins are improving, with operating loss per order falling from ₹136 to ₹79, and advertising revenue soaring 33‑fold to over ₹1,635 crore, highlighting a shift toward monetising platform traffic.