Zepto plans $250 million secondary share sale to boost domestic ownership ahead of IPO

Zepto IPO: Quick commerce and grocery delivery unicorn Zepto, which is looking to launch an initial public offering (IPO) later this year, is in discussion with current stockholders to sell up to $250 million of their equity to boost ownership by Indian investors.

The Bangalore-based company is not seeking to raise additional capital, but employees and existing investors will have the opportunity to sell their shares for cash.

In November, Zepto had raised $350 million from marquee domestic investors, including Indian high-net-worth individuals (HNIs), major financial institutions, and family offices in a round led by the private wealth division of Motilal Oswal. This was done to increase the domestic ownership.

Zepto IPO in 2025?

In December, Zepto co-founder and chief executive officer (CEO) Aadit Palicha said that he is optimistic about launching an initial share sale in 2025.

Meanwhile, Zepto's rivals, Swiggy, which operates Instamart, and Zomato, which runs Blinkit, are listed on the stock exchanges.

On shifting domicile to India from Singapore, Palicha said that the grocery startup will completely become an Indian-owned company in the fiscal year 2025-26.

"That's our ambition and objective (to become an Indian company), and it looks quite likely that we're going to get there. So what I can tell you is that we will be a domestic company within the next financial year," he had said.