Restaurant India News: Zepto Plans Market Debut with Rs 8,010 Crore Fresh Share Issue

Quick-commerce platform Zepto has filed updated draft papers with the Securities and Exchange Board of India (Sebi) to raise Rs 8,010 crore through a fresh issue of equity shares as part of its proposed initial public offering (IPO). The offering will also include an offer for sale (OFS) of 11.35 crore equity shares by existing investors, taking the overall issue size to approximately Rs 11,000 crore.

The company is expected to enter the capital markets in July. Upon listing, Zepto will compete alongside publicly listed players Eternal and Swiggy, whose quick-commerce businesses operate under the Blinkit and Instamart brands, respectively.

According to the updated draft red herring prospectus (UDRHP), proceeds from the fresh issue will primarily be utilised to expand Zepto's dark store network across existing and new markets. The funds will also support lease obligations for current stores, investments in technology and cloud infrastructure, marketing initiatives, inorganic growth opportunities and general corporate requirements.

Zepto was originally incorporated as Kiranakart Technologies Pvt. Ltd in December 2020. The company was renamed Zepto Pvt. Ltd in April 2025 and transitioned into a public limited entity in December 2025. It had initially submitted its IPO documents through Sebi's confidential pre-filing mechanism in December, allowing it to receive regulatory feedback without immediate public disclosure of draft documents.

Founded by Aadit Palicha and Kaivalya Vohra, Zepto has emerged as one of the key players in India's rapidly expanding quick-commerce sector, built around its 10-minute grocery delivery model.

The company reported revenue from operations of Rs 22,624 crore in FY26, while its net receivables value (NRV) stood at Rs 24,816 crore. During the financial year, Zepto processed an average of 1.75 million orders each day and operated 1,139 dark stores as of March 31, 2026. Its annual transacting customer base reached nearly 48 million users.

For the quarter ended March 2026, the company fulfilled approximately 210 million orders, translating into around 2.33 million orders per day. Operational metrics highlighted continued scale and efficiency improvements. Total orders rose from 134 million in Q2FY26 to 210 million in Q4FY26, while average daily orders increased from 1.46 million to 2.33 million over the same period.

Orders per day per store improved to 2,140 from 1,433. At the same time, total cost per order declined to Rs 128 from Rs 181. The adjusted EBITDA loss per order narrowed to Rs 59 from Rs 110, indicating progress in the company's path towards improving unit economics.

Axis Capital, Morgan Stanley India, Goldman Sachs (India) Securities, Motilal Oswal Investment Advisors, HSBC Securities and Capital Markets (India), JM Financial and IIFL Capital Services are acting as the book-running lead managers for the issue.