Zepto Gets SEBI Approval For Planned $1 Billion IPO Amid India’s Quick Commerce Battle

May 10, 2026

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Zepto Moves Closer To Public Listing

Quick commerce startup Zepto has reportedly received approval from SEBI for its proposed initial public offering, bringing the company closer to one of the most anticipated startup listings in India this year.

The company is expected to raise between Rs 8,000 crore and Rs 9,000 crore, with several reports estimating the IPO size at nearly $1 billion. Zepto is likely to submit an updated draft red herring prospectus in the coming weeks.

The offering is expected to include a significant fresh issue of shares along with an offer for sale from some early investors.

Why This IPO Matters

Zepto’s public listing comes at a defining moment for India’s quick commerce industry.

Over the last few years, the sector has transformed urban consumer behavior by promising rapid delivery of groceries and daily essentials. Companies across the category are aggressively expanding dark store networks, delivery fleets, and customer acquisition strategies.

At the same time, competition has intensified significantly.

Blinkit, Swiggy Instamart, and Amazon are all investing heavily to strengthen their positions in the market. Public market investors are now closely watching whether these businesses can balance growth with long term profitability.

Regulatory Attention Around Quick Commerce

The sector has also come under increasing government scrutiny.

Earlier this year, the Union Labour Ministry reportedly asked major quick commerce companies to avoid aggressively promoting fixed time delivery promises due to concerns around rider safety and workplace pressure.

The discussion has added a new dimension to the industry’s growth story, raising questions around operational sustainability and labor practices as companies continue pushing for faster deliveries.

Zepto’s Growth Story

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has rapidly become one of India’s largest quick commerce platforms.

The startup reported total income of Rs 9,668.8 crore for the financial year ending March 2025, reflecting strong growth in customer demand. However, losses also widened during the same period as the company continued investing heavily in expansion and operations.

Zepto last raised $450 million in 2025 at a valuation of $7 billion and has secured backing from major global investors including General Catalyst, DST Global, Lightspeed Venture Partners, and CalPERS.

Preparing For The Public Markets

Ahead of its planned listing, Zepto has taken several structural steps including shifting its domicile from Singapore back to India and converting itself into a public limited entity.

The company is expected to target a market debut during the July to September quarter of 2026.

If completed successfully, the IPO could become one of India’s largest internet startup listings since Swiggy and further strengthen Zepto’s position in the country’s rapidly evolving quick commerce market.