Zepto did not share an official statement on the development till the time of going to press | (Photo: Reuters)
Quick commerce (qcom) player Zepto’s initial public offering (IPO) is on track, with Norway’s sovereign wealth fund Norges and domestic financial services firm Motilal Oswal likely to cover about 40-45 per cent of the company’s anchor book, according to people familiar with the matter.
The anchor book is almost fully subscribed, with the issue also attracting strong interest from domestic institutional investors, bankers and other investors, the sources added.
Foreign investors in the company have indicated interest at a pre-money valuation of around $4.5 billion. The qcom company, however, is targeting an estimated valuation of about $5.1 billion. Notably, the $5.1 billion valuation is 27.1 per cent lower than the company’s earlier valuation of $7 billion.
Zepto did not share an official statement on the development till the time of going to press.
The company is also likely to announce the IPO price band sometime next week. According to media reports, it may also reduce the size of the IPO.
The Bengaluru-headquartered company filed its draft papers with the Securities and Exchange Board of India (Sebi) last month. According to the draft papers, the proposed IPO comprises a fresh issue of equity shares worth ₹8,010 crore and an offer for sale (OFS) by existing investors.
The company’s revenue from operations surged 75.2 per cent year-on-year (Y-o-Y) to ₹7,497.6 crore in the fourth quarter of FY26, compared with ₹4,278 crore in Q4FY25. On an annual basis, revenue more than doubled to ₹22,623.5 crore in FY26 from ₹11,109.9 crore in FY25.
Losses narrowed to ₹1,538.6 crore for the quarter ended March 31, 2026, from ₹1,831.9 crore in Q4FY25. However, for the full financial year, losses widened to ₹5,905.1 crore from ₹4,699.7 crore in FY25.
First Published: Jul 17 2026 | 8:31 PM IST
