Zepto converts to public company ahead of planned IPO in 2026

Zepto has been working to go public for a few months now.

Quick commerce company Zepto has converted into a public limited company just months ahead of a potential public market listing in 2026, regulatory filings showed.

This comes months after Moneycontrol was first to report Zepto had picked bankers for its IPO back in September 2024. The company is likely to raise around $500 million (Rs 4,500 crore) as part of its public market debut, as reported earlier.

It picked investment banks like Goldman Sachs, Morgan Stanley, JM FInancial and others.

“The company will file its DRHP before the end of the current financial year as per current plans,” a person aware of the developments said.

Zepto has been working to go public for a few months now. Soon after the company picked bankers, it also flipped its base back from Singapore to India.

While the company was initially looking to list in 2025, it pushed out the plan by a few months and instead raised $450 million at a valuation of $7 billion, as exclusively reported by Moneycontrol.

In an interview, CEO Aadit Palicha told Moneycontrol Zepto’s order volumes are 40 percent higher than its closest rival. Zepto competes with Swiggy’s Instamart, Eternal’s Blinkit and more.

Competition in the quick commerce space has been intensifying and Zepto is aiming to go public soon after Swiggy, its closest rival, is raising a massive Rs 10,000 crore through a QIP, in about a year since it went public and raised over Rs 11,000 crore via an IPO in November 2024.

Eternal, which runs Blinkit, also raised over Rs 8,000 crore via a QIP. The back-to-back fundraises show how intense the cash burn is in the sector and how players are building a war chest to out pace their peers.