Zepto IPO: Size, Price, Expected Date Everything You Need to Know

Zepto, one of India’s most disruptive quick-commerce platforms, is racing towards its much-anticipated IPO, which is expected to launch in 2026. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has transformed urban grocery and daily needs delivery with its “under-10-minute” promise. The brand has become a household name in metros and top-tier cities, rewriting last-mile delivery benchmarks and pressurising incumbents in India’s ultra-competitive e-grocery space.

The Zepto IPO is expected to raise between ₹6,500 crore and ₹7,000 crore through a combination of a fresh issue and an offer for sale. The company is targeting a valuation between $7 billion to $8 billion at listing, following rapid funding rounds including a pre-IPO $450 million injection led by CalPERS, and stellar revenue growth. The IPO will serve as both a capital infusion for continued hypergrowth and a significant liquidity event for early investors such as Nexus Venture Partners, Y Combinator, and Glade Brook Capital.

This article presents a comprehensive guide to the Zepto IPO, including its structure, business model, financials, sector context and key considerations for prospective investors.

Zepto IPO Dates & Launch Details

• IPO opening date: To be announced
• IPO closing date: To be announced (Typically three days after opening date)
• Basis of allotment: To be announced (Within 3 working days post closure)
• Refund initiation: To be announced (Shortly after basis of allotment)
• Expected listing date: To be announced (Usually within a week following allotment finalisation)

Lead Book Running Managers: To be announced.

Registrar: To be announced.

Price Band & Investment Details

• Price band: To be announced (Face value: ₹10 per share)
• Minimum lot size: To be announced
• Minimum investment: To be announced
• Maximum retail investment: To be announced

Zepto IPO Structure

About Zepto

Zepto burst into prominence with its 10-minute grocery and daily essentials delivery model. Its operation is built around a network of dark stores (small urban warehouses), enabling rapid order fulfilment across densely populated city areas. Zepto has quickly expanded from Mumbai to Delhi NCR, Bengaluru, Chennai, Hyderabad, and over 20 major metros, with a plan to cover 50+ Indian cities by 2026.

Business Model:

• Dark Store Network: Over 250 operational dark stores enabling high availability SKUs and rapid local delivery.
• Supply Chain & Tech: AI-driven inventory management, smart route planning and real-time order allocation for maximum fill rates and minimal wastage.
• Product Offering: A basket of 3,000+ high-velocity grocery, dairy, snacks, personal care and home products, focusing on freshness, speed and convenience.
• Revenue Model: Commission from brands and suppliers, delivery fee, advertisements and potential subscription services in select catchments.
• Innovation: Piloting Zepto Café (quick food and beverage vertical) and “land in 10 minutes” campaigns to promote brand extensions​.

Zepto’s customer experience, with high retention and frequent repeat ordering, is powered by mobile-first UX, cashless checkout, and superior service quality.

Financials 

Key Highlights:

• Zepto’s revenue surged 150% in FY25, reaching ₹11,110 crore, reflecting hypergrowth as the brand expanded scale and urban penetration.
• Despite strong sales, net losses remained large (over ₹1,200 crore in FY24, reducing by almost half in FY25) but improving unit economics and better fill rates point towards positive EBITDA in FY26.
• The business remains capital-intensive, as reflected by negative operating cash flows, although timely fundraises ($450m in 2025) have extended the company’s runway.
• Zepto’s model commands thin margins, but volume growth and persistent customer retention are helping it accelerate towards profitability.
• Backed by global and domestic marquee investors, Zepto is well-equipped for further capex, branding, and AI-driven supply chain innovation in the coming years.

Sector & Market Context

India’s online grocery and quick-commerce space was valued at $11.4 billion in 2024 and is expected to hit $96.3 billion by 2033 (CAGR: 25%). Urbanisation, smartphone adoption, changing lifestyles and the “need it now” mindset are driving hyperlocal demand. Zepto competes with Blinkit (Zomato), Swiggy Instamart and BigBasket Now, but its tech-native fulfilment model and growing brand recall set it apart.

The e-commerce market at large is also booming, with Indian household digital consumption far outpacing global peers. Quick commerce is central to this transformation, acting as the first touchpoint for millions experiencing online shopping for the first time.

Zepto IPO: Key Considerations for Investors

Strengths

• India’s fastest growing quick-commerce player, with a pan-India dark store strategy
• Rapid revenue and order growth with sector-high repeat usage metrics
• Well-funded, strong investor confidence, multiple successful capital raises
• Massive brand recall, urban youth customer base, and expanding product basket

Risks

• Ongoing losses and negative cash flow make path to profitability ambitious but not guaranteed
• Regulatory scrutiny (antitrust, data policy, local sourcing mandates)
• Heavy dependence on fundraising to support growth runway
• Intensifying competition, pricing wars, and evolving consumer preferences

Opportunities

• Pan-India expansion into next 30–40 cities
• Introduction of Zepto Café and new subscription/replenishment services
• AI and automation for further logistics and cost optimization
• Potential entry into adjacent on-demand services and international markets

Zepto IPO Structure

• Fresh Issue: Expected to form the bulk of the IPO, intended to fund network expansion, new technology investments, augmentation of supply chain (dark stores), brand campaigns, and working capital.
• Offer for Sale (OFS): Early institutional backers and some founders may sell a portion of their stake for partial exits and liquidity.
• No dilution of promoter control is expected, as founders look to retain strategic direction post-listing.
• Shares will be listed on the NSE and BSE, significantly enhancing liquidity and providing a new benchmark for India’s new-age digital retail sector.

About the Company

Founded in 2021 and headquartered in Mumbai, Zepto was the first Indian start-up to successfully execute and scale a true sub-10-minute grocery delivery model. The firm was seeded by Aadit Palicha and Kaivalya Vohra when both were teenagers, and has since become a model for quick-commerce execution globally.

Conclsuion

Zepto’s IPO is an important moment for the evolution of Indian retail, highlighting the vast digital shift in how the country eats, lives, and shops. Investors should be aware that growth comes with high capital intensity and near-term losses, but Zepto’s execution, innovation and funding pedigree position it as a leader for India’s digitally native middle class.

Always consider personal investment objectives and consult trusted sources before making any decisions.