Quick commerce platform Zepto is planning to launch its Rs. 11,000 crore (US $1.14 billion) initial public offering (IPO) in July. If the listing proceeds as expected, the company will join rival quick commerce platforms Zomato and Swiggy, which are already listed on Indian stock exchanges.
The Bengaluru-based start-up received approval from the Securities and Exchange Board of India (SEBI) earlier this month for its maiden public issue and is now expected to file its Updated Draft Red Herring Prospectus (UDRHP) with the regulator. Notably, Zepto had filed its IPO papers through the confidential route in December 2025.
According to a recent report by brokerage Bernstein, Zepto is following a different growth strategy from its competitors by prioritising market density and operational intensity over rapid geographic expansion.
The report highlighted that Zepto currently has the highest dark-store concentration in the quick commerce segment, operating nearly 21 stores per city, compared to around nine stores per city for its peers.
At present, Zepto operates 1,255 dark stores across 61 cities, while rival Blinkit has 2,222 stores spread across 243 cities.
In October 2025, Zepto raised US $450 million in a funding round led by California Public Employees’ Retirement System at a valuation of US $7 billion. Earlier, in August 2023, the startup achieved unicorn status after raising US $200 million in its Series E funding round, which valued the company at US $1.4 billion.
