Zepto Delays IPO, Eyes Rs 1,000 Crore in Pre-IPO Funding at $4.5 Billion Valuation

New Delhi: Quick-commerce unicorn Zepto has decided to push back its initial public offering (IPO), which was originally targeted for July 2026. Instead, the startup is preparing to raise approximately Rs 1,000 crore in a pre-IPO funding round, according to insider sources.

Valuation Moderation and Domestic Focus The upcoming capital infusion is expected to be driven primarily by domestic investors. This strategic move aims to boost the Indian shareholding in the company, which currently stands at around 40%.

Notably, this new round values Zepto at approximately $4.5 billion. This marks a significant moderation from the $7 billion valuation the company commanded in October 2025, when it raised $450 million in a round led by the California Public Employees’ Retirement System (CalPERS).

IPO Blueprint and Market Rivalry Founded by Stanford dropouts Aadit Palicha and Kaivalya Vohra, Zepto filed its preliminary IPO papers confidentially with SEBI in December 2025. According to the updated draft, the proposed IPO includes a massive Rs 8,010 crore fresh issue of shares, alongside an offer for sale (OFS) of 11.35 crore equity shares by existing shareholders.

Once listed, Zepto will join the ranks of Eternal and Swiggy on the stock exchanges, intensifying the direct competition with their respective quick-commerce arms, Blinkit and Instamart.

Robust FY26 Financial Highlights Despite the IPO delay, Zepto continues to scale its operations rapidly. For the financial year 2026, the company reported the following key metrics:

• Revenue: Rs 22,624 crore from operations.

• User Base: Nearly 48 million annual transacting users.

• Order Volume: An average of 17.5 lakh orders processed daily throughout the year. This momentum accelerated in the quarter ended March 2026, where the company handled around 210 million orders (roughly 23.3 lakh orders per day).

• Infrastructure: 1,139 active stores across the country as of March 31, 2026.