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Zepto converts into public company

Entrackr · 7h ago

Medial

Zepto converts into public company The approval came through a special resolution passed by its shareholders, according to a PTI report. However, we could not find any corresponding filings on the Registrar of Companies’ website as of late Friday evening. Quick commerce firm Zepto has formally converted itself into a public company, changing its name from Zepto Private Limited to Zepto Limited. The approval came through a special resolution passed by its shareholders, according to a PTI report. However, we could not find any corresponding filings on the Registrar of Companies’ website as of late Friday evening. The conversion fulfills an important requirement for the company as it prepares for an initial public offering. Zepto recently concluded a $450 million fundraise as part of its ongoing capital expansion ahead of its planned IPO next year. While the exact timeline has not been disclosed, the firm reportedly expected to file its draft red herring prospectus under the confidential route before mid December. During the last fundraise, Zepto’s co-founder and CEO Aadit Palicha said the firm has shown strong growth, scaling from about five lakh daily orders five quarters ago to 1.7 million, and expects this momentum to continue. The company has raised a total of $2.3 billion since its inception, including $1.8 billion since January last year. Zepto posted revenue of Rs 4,454 crore in FY24, more than twice the Rs 2,026 crore it recorded in FY23. Its losses saw a modest reduction, narrowing from about Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. Filings also show that the company registered a turnover of Rs 11,110 crore ($1.3 billion) in FY25. However, it has not yet disclosed its full financial results for the last fiscal year.