Zepto postpones IPO, seeks ₹1,000 cr pre‑IPO funding at lower valuation

Zepto IPO delay pre‑IPO funding valuation Swiggy

Indian quick‑commerce startup Zepto has put its planned initial public offering on hold and is now arranging a pre‑IPO placement to raise more than INR 1,000 crore (about US$105 million) from existing investors such as General Catalyst, Goodwater Capital and Nexus Venture Partners. The move follows a valuation dispute: domestic mutual‑fund investors value the company at roughly $2.5‑$3 billion, far below the $5 billion Zepto had targeted, and reports suggest a pre‑money valuation of about $4.5 billion, down from a $7 billion valuation recorded in October 2025. Consequently, the size of the eventual IPO has been cut from an earlier plan of around INR 8,000 crore to roughly INR 5‑6 crore. Under SEBI rules, a company can raise up to 20 % of the proposed issue via a pre‑IPO placement, with any amount raised deducted from the fresh‑issue component of the IPO. Competitors Swiggy and Eternal have seen their share prices surge—Swiggy up about 24 % and Eternal around 17 % in July—benefiting from the uncertainty surrounding Zepto’s listing. Zepto’s draft offer document deadline is set for 21 August.

Entities: Eternal · General Catalyst · Goodwater Capital · Nexus Venture Partners · Swiggy · Swiggy Ltd. · Zepto · Zepto Ltd.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 2 SOURCES] Swiggy’s shares rose about 24 % and Eternal’s about 17 % in July due to Zepto’s IPO challenges.
[● 5 SOURCES] Zepto has postponed its planned initial public offering.
[● 3 SOURCES] Existing investors in the pre‑IPO round include General Catalyst, Goodwater Capital and Nexus Venture Partners.
[● 3 SOURCES] The planned IPO size has been reduced from about INR 8,000 crore to INR 5‑6 crore.
[● 3 SOURCES] Zepto is raising more than INR 1,000 crore via a pre‑IPO placement with existing investors.
[● 2 SOURCES] The pre‑money valuation of the new funding round is reported at about $4.5 billion.
[● 4 SOURCES] Zepto was valued at $7 billion in October 2025.
[● 3 SOURCES] Domestic mutual funds have valued Zepto at $2.5‑$3 billion for the IPO.