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

EntrackrEntrackr · 3m ago
Zepto nears Rs 1,500 Cr structured debt deal ahead of IPO
Medial

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 to raise $500 Mn at $7 Bn valuation: Report

EntrackrEntrackr · 1m ago
Zepto to raise $500 Mn at $7 Bn valuation: Report
Medial

Zepto to raise $500 Mn at $7 Bn valuation: Report Quick commerce firm Zepto is in advanced talks to raise $500 million in a new funding round led by existing backers General Catalyst, Avenir, and others, according to a Moneycontrol report. The round is expected to value the Mumbai-based startup at around $7 billion, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. In total, the Aadit Palicha-led company raised $1.35 billion in 2024. This development comes shortly after Zepto postponed its planned initial public offering (IPO) to 2026. The company had already completed its reverse flip to India in January this year. Zepto is currently prioritizing lower cash burn and stronger profitability ahead of its public listing. In response to rising operational costs, the company has temporarily shut down its food service arm, Zepto Cafe, in several smaller North Indian cities such as Agra, Chandigarh, Meerut, Mohali, and Amritsar. Zepto is also facing strong competition from rivals including Blinkit and Swiggy. According to an ICICI Securities report, Blinkit and Swiggy Instamart surged ahead in Q1 FY26, expanding gross order value by over 25% and 22%, respectively. The duo outperformed the overall quick-commerce sector’s sub-20% growth. In April, Palicha said the company is approaching an annualized Gross Order Value (GOV) of $4 billion. According to him, Zepto scaled from $1 billion to $3 billion in GOV within eight months, reflecting around 300% year-on-year growth and a 30% increase since January 2025. Recently, Palicha added that a majority of Zepto's dark stores are expected to become fully EBITDA-positive in the next quarter. Earlier this year, it closed a $665 million Series F round followed by a $340 million top-up, raising over $1 billion in 2024 alone. Zepto claims a majority of its dark stores have turned EBITDA positive, with deeper expansion planned across metros and Tier II/III cities. The upcoming funding is likely to support operational scale, enhance its tech stack, and sharpen its supply chain efficiencies. While earlier reports suggested a delayed IPO timeline, Zepto has clarified it is targeting a late-2025 to early-2026 window, contingent on market conditions. The company is also said to be aligning its cap table to include more domestic investors in preparation for a potential India listing. Founded in 2021, Zepto competes with Blinkit, Swiggy Instamart, and BigBasket in India’s fast-evolving quick commerce space.

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25

EntrackrEntrackr · 17d ago
Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25
Medial

Zepto revenue soars 2.5x to Rs 11,110 Cr in FY25 Quick commerce unicorn Zepto clocked Rs 11,110 crore (nearly $1.3 billion) in turnover in FY25, a sharp 150% jump from Rs 4,454 crore in FY24, according to regulatory filings reviewed by Entrackr. Zepto’s FY25 performance comes on the back of aggressive execution and disciplined expansion. According to earlier Aadit Palicha’s post, the company was at $3 billion in annualized gross order value (GOV) and halved its losses over the last year. In FY24, Zepto incurred losses of Rs 1,248 crore on revenue of Rs 4,454 crore. That means the startup spent Rs 1.29 to earn every Rs 1 of revenue in FY24, a figure it has reportedly improved in FY25 with better unit economics, higher fill rates, and stronger contribution margins. We are not comparing Zepto's FY25 numbers with Instamart and Blinkit due to differences in their business models and accounting practices. However, the NOV (net order value) of Blinkit stood at Rs 22,731 crore in FY25, while Swiggy’s quick commerce biz Instamart GOV was recorded at Rs 14,600 crore in the same period. Zepto's founder Aadit Palicha did not comment on the story. As per a recent report, Zepto is in talks to raise $500 million at a potential $7 billion valuation, a significant jump from its previous valuation of $5 billion when it raised $350 million in November 2024. The fresh round is expected to bolster Zepto’s runway ahead of a potential IPO in 2026, as the company pushes toward EBITDA break-even in the next 12–15 months.

Zepto becomes first unicorn of India in 2023

LivemintLivemint · 1y ago
Zepto becomes first unicorn of India in 2023
Medial

Zepto, an Indian quick commerce startup, raised a substantial amount in funding led by StepStone Group, marking the firm's first direct investment in an Indian company. Goodwater Capital also joined as a new investor. Zepto's existing investors, including Nexus Venture Partners, Glade Brook Capital, and more, also increased their investments. Zepto, which delivers groceries in 10 minutes, plans to go public in the next two to three years. Despite the challenging capital market conditions, Zepto has displayed strong operational discipline, turning the majority of its dark stores EBITDA positive and reducing burn. The company has achieved 300% YoY sales growth and aims to achieve $1 billion in annualized sales soon.

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