NEW DELHI: Popular fast e-commerce company Zepto on Saturday filed its preliminary papers with the Securities Exchange Board of India (Sebi) with an aim to raise Rs 11,000 crore IPO (IPO).The company, founded by Stanford University graduates, is using a confidential route for its stock market debut planned next year, officials quoted by PTI said. The move could make Zepto one of India’s youngest listed startups, joining rivals Zomato and Swiggy on the stock exchanges.The company has submitted “the draft Red Herring prospectus pre-filed with Sebi and the stock exchanges… in connection with the proposed initial public offering of its shares on the main stock exchanges,” the officials quoted said.The confidential pre-filing approach is becoming increasingly popular among companies seeking more flexibility in IPO planning. It helps them better respond to market conditions before going public. Zepto’s move follows successful listings by its competitors – Zomato (with Blinkit) in 2021 and Swiggy (with Instamart) in November 2024.The company has strong financial support from major investors. It is currently valued at $7 billion and has raised $1.8 billion (approximately Rs. 16,000 crore) since inception. In October, the company received $450 million from CalPERS. The company became a unicorn in August 2023 after raising $200 million, reaching a valuation of $1.4 billion.Founded by Aadit Palicha and Kaivalya Vohra, Zepto has grown rapidly with its 10-minute grocery delivery service in major Indian cities. As of September this year, the company operated over 900 dark stores. It spent Rs 1,000-1,100 crore on operations and achieved gross sales of $3 billion (around Rs 26,000 crore).
