Indian quick-commerce startup Zepto Ltd. is reportedly gearing up to file for an initial public offering of roughly $500 million in Mumbai as early as next week, according to sources familiar with the matter. The filing is expected to include both a fresh issue and secondary share sales by existing investors, with proceeds earmarked for scaling operations and expanding the company’s rapid grocery delivery network.
Zepto, known for its 10-minute grocery delivery service, is working closely with Axis Bank Ltd., Motilal Oswal Investment Advisors Ltd., and the Indian units of Morgan Stanley, HSBC Holdings Plc, and Goldman Sachs Group Inc. to submit its draft prospectus via a confidential route. While deliberations on the final timing and size of the IPO remain ongoing, the filing signals a major milestone for the startup, which has emerged as one of India’s fastest-growing quick-commerce players.
The proposed public listing comes shortly after Zepto’s $450 million funding round in October 2025, which valued the company at $7 billion. The capital raised then enabled Zepto to expand its warehouse network, strengthen last-mile delivery capabilities, and compete aggressively with global and local rivals.
India’s quick-commerce market is witnessing rapid growth, driven by rising urban demand for groceries, daily essentials, and household products delivered within minutes. Zepto competes with Amazon India, Swiggy, Zomato, and BigBasket, all of which are investing heavily in logistics infrastructure, micro-fulfillment centers, and technology platforms to capture market share.
Global investors, including SoftBank Group Corp. and Temasek Holdings Pte., have poured billions into India’s fast-moving delivery sector, underscoring the market’s strategic importance and the intense competition. Zepto’s planned IPO will test investor appetite for quick-commerce in India and could mark a landmark moment for startups attempting to combine speed, convenience, and scale in a single business model.
