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Zepto founders tap Edelweiss, others for Rs 1,500 crore structured debt to boost Indian ownership

Internet

Internet · 3m ago

Zepto founders tap Edelweiss, others for Rs 1,500 crore structured debt to boost Indian ownership

Zepto's founders, Aadit Palicha and Kaivalya Vohra, are negotiating a Rs 1,500 crore structured debt deal with Edelweiss and others to boost Indian ownership before an IPO. The funds will acquire shares from foreign investors, raising domestic ownership to over 30%. This move aligns with FDI regulations and enhances IPO eligibility. A $250 million secondary transaction is also underway. Zepto aims for profitability while reduci...

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Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO

Entrackr

Entrackr · 3m ago

Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO

Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO: Report Quick commerce platform Zepto is reportedly finalising a Rs 1,500 crore ($175 million) structured debt deal with Edelweiss Alternative Asset and other investors. According to an ET report, the funds will be used to buy back shares from foreign investors, increasing Indian ownership ahead of Zepto’s planned IPO. Zepto is expected to file its IPO draft papers in mid-2025. The company has already secured approvals to shift its base from Singapore to India. Edelweiss is expected to underwrite about half of the loan, while other domestic family offices and credit funds are expected to contribute the remaining Rs 750 crore. The deal will value Zepto at around $5 billion, matching its last equity fundraising round when it raised $350 million, led by Motilal Oswal Private Wealth, in November last year. The report added that founders Aadit Palicha and Kaivalya Vohra’s stake will rise from 18% to around 20%, while overall domestic shareholding could exceed 30%, aligning with Indian foreign direct investment rules. Zepto is also close to completing a $250 million secondary share sale involving private equity firms like Motilal Oswal. In a recent development, Palicha disclosed that the Mumbai-based firm is also close to hitting an annualized Gross Order Value (GOV) of $4 billion.

Zepto delays IPO plans to 2026: Report

Entrackr

Entrackr · 2m ago

Zepto delays IPO plans to 2026: Report

Zepto delays IPO plans to 2026: Report Zepto, the quick commerce company, has reportedly postponed its plans to launch an initial public offering (IPO) to 2026. According to a report by Moneycontrol, this represents a change from the company’s earlier timeline, in which co-founder and CEO Aadit Palicha had indicated a listing in 2025. The report noted that the company is unlikely to go public this year, even if it files its draft red herring prospectus (DRHP) in the coming months. The IPO timeline has reportedly been extended multiple times, with internal discussions highlighting the need for stronger financial metrics before pursuing a public listing. Zepto is currently focused on reducing its cash burn and improving profitability before entering the public markets. Queries sent to Zepto did not elicit an immediate response. Due to rising operational costs, Zepto Cafe, the food service unit of Zepto, has temporarily closed in several smaller North Indian cities, including Agra, Chandigarh, Meerut, Mohali, and Amritsar. The company shut down approximately 44 cafes, affecting more than 400 employees. Media reports indicate that Zepto was spending between Rs 250 crore and Rs 300 crore per month toward the end of last year. Meanwhile, the Aadit Palicha-led company is finalising a Rs 1,500 crore (approximately $175 million) structured debt deal with Edelweiss Alternative Asset and other investors. The funds will be used to buy back shares from foreign investors, increasing Indian ownership ahead of the IPO.

Edelweiss Group taps market for investment in alternatives arm

VCCircle

VCCircle · 1y ago

Edelweiss Group taps market for investment in alternatives arm

Edelweiss Group plans to sell a 10-20% stake in its alternative assets arm, Edelweiss Alternatives, in an attempt to raise Rs 1,500-2,000 crore. The stake sale is expected to be completed within the next five months and aims to reduce debt and establish market value for the business. Edelweiss Alternative Asset Advisors currently manages over $5.9 billion in assets and specializes in private debt in India. The company has seen consistent growth, with assets under management increasing by 17% annually since FY17.

Zepto nears $350M secondary share sale to increase domestic ownership

YourStory

YourStory · 3m ago

Zepto nears $350M secondary share sale to increase domestic ownership

Zepto, a quick commerce unicorn, is nearing a $350 million secondary share sale, valuing it at approximately $5 billion. A major domestic entity has committed $100 million, while additional funding will come from family offices and mutual funds. This transaction allows foreign investors to exit partially. Indian ownership aims to increase beyond 50% before Zepto's IPO, boosting its ability to run an inventory model. Founders have secured Rs 1,500 crore to enhance their holdings.

Motilal Oswal, Raamdeo Agrawal Buy $100 Million Zepto Shares; Another $250 Million Round Planned

OutlookIndia

OutlookIndia · 3m ago

Motilal Oswal, Raamdeo Agrawal Buy $100 Million Zepto Shares; Another $250 Million Round Planned

Motilal Oswal and Raamdeo Agrawal purchased $100 million worth of Zepto shares, aiming to boost Indian ownership before its planned IPO. The shares were bought in a secondary transaction from foreign investors. Additionally, a $250 million funding round is in progress, involving entities like Edelweiss and Hero FinCorp, bringing total transactions to $350 million. This aligns with Zepto's goal to exceed 50% domestic shareholding, enhancing its valuation set at $5 billion.

Edelweiss Financial exits debt investment in Mumbai developer

VCCircle

VCCircle · 8m ago

Edelweiss Financial exits debt investment in Mumbai developer

Edelweiss Financial Services has exited its debt investment in Mumbai-based developer Paradigm Realty ahead of the repayment date. The investment, which was primarily repaid through cash flows from sales, helped Edelweiss Financial Services earn returns of 18-19%. The debt investment was used for the development of the residential phase of a mixed-use township in Mumbai. Paradigm Realty has announced plans for further funding closures and negotiations for raising over Rs 300 crore for three upcoming projects. The developer's annual revenues grew from Rs 400 crore to Rs 550 crore in the fiscal year ended March.

Zepto Eyes $250M Secondary Sale to Boost Indian Ownership Ahead of IPO

OutlookIndia

OutlookIndia · 4m ago

Zepto Eyes $250M Secondary Sale to Boost Indian Ownership Ahead of IPO

Zepto, a quick-commerce start-up, is negotiating a $250 million secondary sale to increase Indian investor ownership from 33% to 50% before its planned IPO either later this year or in early 2026. The sale involves discussions with Motilal Oswal and Edelweiss Financial Services for purchasing shares. The transaction aims to enhance Indian ownership without raising additional capital, while current investors have an opportunity to cash out. Zepto competes in the Indian grocery delivery market and recently expanded into electronics.

Zepto weighs Indian AIF, founder buyback to up local ownership

Economic Times

Economic Times · 5m ago

Zepto weighs Indian AIF, founder buyback to up local ownership

Zepto is exploring options to increase its domestic shareholding before a potential IPO. These include a founder-led buyback and setting up an Indian AIF to shift foreign shares. This strategy aims to boost domestic ownership and prepare for a secondary funding round. The founders currently hold 28% of the company. Zepto plans to file its IPO draft confidentially, despite unstable public markets, targeting EBITDA profitability sooner than FY26, and expanding its Esop pool.

Holi surcharge? Swiggy Instamart introduces festive handling fee on orders

YourStory

YourStory · 5m ago

Holi surcharge? Swiggy Instamart introduces festive handling fee on orders

Swiggy Instamart introduced a 'festive handling charge' for orders during Holi, marking its first-time surge fee, similar to other quick-commerce platforms. The fee ranges from Rs 8.90 to Rs 20, varying by location. While some platforms, like Blinkit, don't charge a platform fee, others like Zepto do. Despite being small, platform fees significantly boost revenue. For instance, Zomato collected Rs 83 crore between August 2023 to March 2024, contributing to 27% YoY revenue growth.

Edelweiss Financial Services launches Rs 300 crore NCD issue with yield up to 10.5%

Economic Times

Economic Times · 1m ago

Edelweiss Financial Services launches Rs 300 crore NCD issue with yield up to 10.5%

Edelweiss Financial Services has announced a public issue of secured redeemable non-convertible debentures (NCDs) worth up to Rs 300 crore. The base issue is Rs 150 crore with an additional Rs 150 crore via a green shoe option. Offering yields ranging from 9.00% to 10.49%, the NCDs have a face value of Rs 1,000 each. The funds will mainly be used to repay existing debt and support corporate needs, with allotment on a first-come, first-serve basis.

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