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Zepto IPO Gears Up for $1 Billion Launch
25 May
Summary
- Zepto aims for a $1 billion IPO, filing in June for a July launch.
- Proceeds will fund expansion amidst India's IPO market revival.
- The company competes with Amazon India and other local rivals.
Zepto Ltd., a prominent quick-commerce firm, is preparing to file for a potential $1 billion Initial Public Offering (IPO) by mid-June. Investor roadshows are anticipated to commence in late May, with a target launch for the IPO in July.
The planned offering will include both new shares and secondary sales from existing investors. Proceeds are earmarked for expansion initiatives.
This IPO could be one of the few billion-dollar offerings in India this year, aiming to invigorate a market that has seen slower deal activity due to global economic concerns.
Zepto, which achieved a $7 billion valuation in October, competes with Amazon India, Swiggy, Zomato, and BigBasket. The company has engaged Axis Capital, Motilal Oswal, and the local units of Morgan Stanley, HSBC, and Goldman Sachs for the share sale.
Having confidentially submitted draft IPO papers in late December and receiving regulatory feedback on May 10, Zepto must now make its prospectus public for at least 21 days before launching the offering.
