Zepto could raise IPO size up to $1 billion

Quick commerce business Zepto is contemplating increasing the scale of its upcoming initial public offering to between $800 million and $1 billion, including its secondaries. 

“There will be an overall increase in offering size unless the markets turn wildly the other way,” an anonymous source close to the development told ET Tech. “It would be in the range of around $800 million or above, as at least $300 million to $400 million worth of shares may be sold in [an] offer for sale along with an increase in the primary fundraise through the issuance of new shares.”

Zepto has projected $5.5 billion in its gross sales for the last quarter of the 2026 financial year, the Economic Times reported. The business is also eyeing a positive earnings before interest, tax, depreciation, and amortisation total for the future quarter. 

“In recent meetings with mutual funds- which are key to any IPO in India- the company discussed its recent trajectory of switching gears to focus on expansion and then stabilising that scale,” said ET Tech’s source. “Profitability is key, and that’s why those estimates have been shared with these investors.”  

Zepto has been focusing on expanding its quick commerce operations by opening new dark stores across the country. Over the past three months, Zepto has used over Rs 1,000 crore to invest in increasing its competitiveness amongst its peers in the country.