Zepto Limited files UDRHP-I with SEBI for an Initial Public Offering (IPO)
Funding inorganic growth through unidentified acquisitions and general corporate purposes.
POSTED BY : MRUNALI SAKPAL DATED ON 09/06/2026 ( 8850212023 )
UDRHP-1 Link: https://www.axiscapital.co.in/contents/Zepto%20Limited%20-%20UDRHP-I-1780938548.pdf
Zepto Limited, fastest growing quick commerce platform in India in terms of order volume between Fiscal 2024 and Fiscal 2026 amongst scaled quick commerce platforms has filed its UDRHP-I with SEBI.
The offer comprises of a fresh issue aggregating up to ₹ 8,010 crores and an offer for sale of Equity Shares aggregating up to 11, 34, 66, 566 of face value of ₹ 5 per equity share.
Zepto proposes to utilise the net proceeds from the fresh issue towards:
1. Expansion of the dark store network through setting up new dark stores in existing and new geographies
2. Lease rentals of existing dark stores
3. Investment in technology and cloud infrastructure
4. Investment in Zepto Marketplace Private Limited for marketing and business promotion expenses to enhance brand awareness and visibility
Zepto is the fastest growing quick commerce platform in India in terms of order volume between Fiscal 2024 and Fiscal 2026 amongst scaled quick commerce platforms; and during this period, Zepto’s order volume grew at a CAGR of approximately 119.50%, significantly outpacing industry growth, per the Redseer Report. Zepto is focused on the quick commerce business and its target is to provide quick delivery to users. In Fiscal 2026, an average of 46,623 SKUs (ranging from fruits and vegetables to household electronics and cosmetics) were listed on its platform (at a dark store geography level) and sold by Merchant Partners through an intuitive digital interface and a network of 1,139 dark stores, as of March 31, 2026.
The company’s network of dark stores is powered by a backend supply chain infrastructure that enables its Merchant Partners to offer fast moving consumer goods products from manufacturers and brands. This supply chain is automated, with an average of 3,999,192 units per day processed through automated infrastructure during the three months ended March 31, 2026, and operates on in-house software for manpower productivity management, inventory forecasting and tracking, among other features.
Zepto’s delivery network comprises an average of 286,670.33 active delivery partners on a “gig economy” model, delivering an average of 2,333,488 orders per day (“OPD”) in the three months period ended March 31, 2026. The Delivery Partners are managed through an in-house delivery platform that matches demand forecasts with shift timings, digitizes cash collection for order payments, and gives Delivery Partners visibility into their earnings and weekly payouts.
For Fiscal 2026, Zepto reported Net Revenue of ₹22,623.58 crore and Net Revenue Value (NRV) of ₹24,815.54 crore. The company served 47.97 million annual transacting users during Fiscal 2026. Advertisement revenue stood at ₹1,635.73 crore in Fiscal 2026.|
The equity shares are proposed to be listed on the BSE and NSE.
Axis Capital Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Motilal Oswal Investment Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited, and IIFL Capital Services Limited are the book running lead managers to the issue.
