Motilal Oswal and Raamdeo Agrawal, the co-founders of Motilal Oswal Financial Services, have quietly snapped up Zepto shares worth around $50 million (roughly ₹424 crore) each in a secondary deal, say sources familiar with the matter. On top of that, a much larger $250 million transaction is also said to be in motion.
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As of now, Indian investors hold just over 42% of Zepto. However, if all goes according to plan, that number could climb past 50% soon. The company is reportedly aiming to increase domestic ownership before it makes its stock market debut.
Motilal Oswal Financial Services is also fronting the $250 million round on behalf of its clients, according to insiders. All of these transactions are being carried out at Zepto’s last known valuation of $5 billion, which was established back in August 2024.
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Binding agreements for the larger deal have already been signed. An official announcement is likely sometime in June, pending final due diligence. Zepto, when contacted, did not provide a comment.
