Zepto's UDRHP Reveals ₹8,010 Cr IPO Plan, Targets 1,900 New Dark Stores
Zepto has filed an updated draft red herring prospectus (UDRHP) with SEBI, proposing a fresh issue of ₹8,010 crore alongside an offer for sale of up to 11.35 crore shares by existing investors. If successful, the listing could make Zepto the country's first pure-play quick commerce company to enter public markets.
But beyond the headline fundraising numbers, the filing reveals a more nuanced story: one of extraordinary growth, expanding infrastructure needs, improving operating efficiencies, and losses that continue to widen.
Public Market Test
Quick commerce companies have spent the last few years racing to capture market share through dense dark store networks, aggressive customer acquisition, and ever-shorter delivery windows. The model has attracted both excitement and scepticism. Zepto's latest filing flags that tension.
For FY26, the company reported operating revenue of ₹22,623.6 crore, more than doubling from ₹11,109.9 crore in FY25. During the same period, however, net losses widened 26%...
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