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HomeIPOZepto Limited

About Zepto Limited

Incorporated in July 2021, Zepto is a quick commerce company in India operating in the space of ultra-fast grocery delivery solutions. The company has a dark store-based logistics system spread across the whole nation in the form of micro-warehouses.Zepto provides delivery services for groceries and essentials in around 10 minutes, catering to customers in many Indian cities through its network of more than 250 dark stores.The company provides services for over 45,000 products ranging from food to electronics and essential commodities. Zepto has ventured into categories such as pharmacy and lifestyle.The company has quickly raised funding rounds in larger amounts, reaching a valuation of multiple billion dollars, and competes in the market with Blinkit and Instamart

Financials of Zepto Limited

In Cr.

Key Performance Indicator31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)31-Mar-22 (In Cr.)
Revenue
EBITDA
Expenses
Profit After Tax
Assets
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Live IPOs

National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Zepto Limited

Zepto Limited

Open Date

TBA

Close Date

TBA

upcoming

Price Range

₹11 - ₹11

Listing Date

TBA

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Consistent increase in dark stores

The company has scaled its operations and created demand in a highly competitive environment through expanding its dark stores to 1,139 across 66 cities in ~5 years since inception.

02

Increase in dark store density

Orders Per Day (OPD) per store increased from 1,325 in FY24 to 2,140 in Q4FY26, a 61.5% increase. At the same time, the average delivery distance was reduced from 2.05 km in FY24 to 1.83 km in Q4FY26. These numbers show that the company’s expansion strategy is not only focused on entering new cities but also on increasing dark store density in areas with strong demand.

03

Advertising as key revenue source

Advertising has become one of its fastest-growing and highest-margin revenue streams. Advertisement revenue increased from ₹49.17 crore in FY24 to ₹1,635.73 crore in FY26, which is a 33x increase in 3 years. The contribution of advertising to NRV also saw improvement with an increase to 1.11% in FY24 and a further increase to 7.78% in FY26.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

High competition

Zepto faces strong competition in the quick commerce sector, wherein consumers, retailers, and delivery drivers can move between different platforms easily. It competes with well-capitalised firms that may have greater brand recognition.

02

Losses and negative free cash flow

The company has experienced an increase in losses from ₹1,214 crore in FY24 to ₹5,905 crore in FY26. It also generated negative free cash flows of ₹(4,329.54) crore in FY26. Although cash and investments of ₹5,680 crore stood at the end of FY26, the company must continue to find significant amounts of money to fully support its rapid expansion.

Contact Details

Zepto Limited

First Floor, 773, Sarjapur Main Road, Kaikondaraha Bengaluru, Karnataka, 560103

0224893023
support@zeptonow.com
https://www.zepto.com/

Zepto Limited IPO - FAQs

Zepto Limited IPO is a BSE, NSE IPO. The issue is priced at ₹11,000 Crores Approx.. The minimum order quantity is TBA. The IPO opens on TBA, and closes on TBA. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre ApplyTBA
  • Bidding StartsTBA
  • Bidding EndsTBA
  • Allotment FinalisationTBA
  • Release of FundsTBA
  • Demat TransferTBA
  • ListingTBA
03

High employee turnover

Employee turnover is still relatively high, with a non-operating employee turnover rate of 54.23% in FY24 and 51.28% in FY26. Operating employees experienced an even higher level of turnover, with an employee turnover rate of 73.22% for operating employees in FY26.

04

Ongoing legal cases

Founders, Aadit Palicha and Kaivalya Vohra, received notices by ED for proceedings relating to FEMA in April 2026