Zepto has become one of India's most closely watched startups, transforming the quick commerce industry with its promise of grocery delivery in minutes. From operating a handful of dark stores in 2021 to becoming one of India's largest quick-commerce platforms, the company has scaled at an extraordinary pace.
With its Updated Draft Red Herring Prospectus (UDRHP) now filed with SEBI, Zepto is moving closer to its highly anticipated public listing. The IPO has attracted significant attention from investors looking to participate in India's growing digital commerce ecosystem.
Zepto IPO 2026: Latest DRHP Update
Zepto filed its Updated Draft Red Herring Prospectus (UDRHP) with SEBI in June 2026.
According to the filing:
Fresh Issue: ₹8,010 crore
Offer for Sale (OFS): Up to 11.35 crore equity shares
Expected IPO Size: Approximately ₹9,500–11,000 crore
Founders Aadit Palicha and Kaivalya Vohra are not participating in the OFS, signalling continued long-term commitment.
If listed as planned, Zepto could become India's first pure-play listed quick commerce company, making the IPO one of the biggest startup listings in recent years.
Zepto Unlisted Share Price
Ahead of the IPO, Zepto's unlisted shares continue to attract investor interest in the private market.
Zepto is trading in the range of ₹40-45, the latest price can be tracked on Precize, where investors can also monitor historical price movements and company updates.
Check the latest price here: Zepto Unlisted Shares on Precize
Since unlisted share prices are driven by market demand, funding rounds, IPO expectations, and secondary market liquidity, they may differ significantly from the eventual IPO price.
Zepto Business Model
Zepto operates an asset-intensive quick commerce model built around a network of strategically located dark stores.
Its revenue comes from multiple sources:
Grocery deliveries
Daily essentials
Electronics
Personal care
Advertising revenue
Private label products
Subscription offerings
The company uses AI-driven inventory management and localized fulfilment centres to deliver products within minutes, helping improve customer retention while increasing order frequency.
Zepto Financial Performance
Zepto has reported exceptional revenue growth as it continues expanding across Indian cities.
FY26 Highlights
Revenue more than doubled to ₹22,624 crore
Continued investment in expansion resulted in higher losses
Significant improvement in quarterly operating performance during FY26
Strong growth in order volumes and dark store network
The latest DRHP also showed:
Q4 FY26 revenue grew nearly 75% YoY
Quarterly losses narrowed substantially compared to previous quarters, indicating improving operating leverage as the business scales.
Like many technology-led consumer businesses, Zepto remains focused on capturing market share while gradually improving profitability.
How Will IPO Proceeds Be Used?
According to the DRHP, the fresh capital will primarily support:
Expansion of the dark store network
Technology and product development
Supply chain infrastructure
Strategic acquisitions
General corporate purposes
These investments are aimed at strengthening Zepto's competitive position in India's rapidly expanding quick commerce market.
Industry Opportunity
India's quick commerce industry has evolved rapidly over the past few years.
Consumers are increasingly shifting toward:
Instant grocery delivery
Higher online spending
Digital payments
Convenience-led shopping
As urban demand continues to rise, quick commerce is becoming a meaningful part of India's retail ecosystem.
Zepto competes with major players including:
Blinkit
Swiggy Instamart
BigBasket
Flipkart Minutes
Amazon
Despite intense competition, the overall market continues to expand, creating room for multiple large players.
Key Strengths of Zepto
Several factors continue to make Zepto one of India's most tracked startups:
Rapid Revenue Growth
Zepto has consistently delivered one of the fastest growth rates among Indian consumer internet companies.
Strong Brand Recall
The company's focus on ultra-fast delivery has created significant consumer awareness across metro cities.
Technology-Led Operations
AI-powered inventory management and optimized fulfilment improve delivery efficiency.
Experienced Investor Base
Zepto is backed by leading global investors, providing access to long-term capital for expansion.
Large Addressable Market
India's online grocery penetration remains relatively low compared to developed markets, leaving substantial room for future growth.
Key Risks Investors Should Consider
While Zepto presents a compelling growth story, investors should also evaluate the associated risks.
Profitability remains a work in progress
The company continues to invest heavily in customer acquisition and infrastructure.
Intense competition
The quick commerce segment remains highly competitive with well-funded rivals.
Execution risk
Scaling dark stores while maintaining delivery efficiency and margins will be critical.
Valuation expectations
High-growth startups often command premium valuations, making future earnings execution especially important.
Should Investors Track Zepto Before the IPO?
Zepto's IPO represents one of the biggest upcoming listings in India's startup ecosystem.
Its combination of:
Strong revenue growth
Expanding market opportunity
Scalable technology platform
Leadership in quick commerce
makes it a company many investors are closely monitoring.
However, like other high-growth internet businesses, the investment thesis should balance growth potential against profitability, competition, and valuation.
For investors interested in participating before the public listing, tracking Zepto's unlisted share price and upcoming regulatory developments can provide useful insights as the IPO process progresses.
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Frequently Asked Questions (FAQs)
1. Has Zepto filed its DRHP?
Yes. Zepto filed its Updated Draft Red Herring Prospectus (UDRHP) with SEBI in June 2026 as part of its IPO process.
2. What is the expected size of the Zepto IPO?
Market reports indicate the IPO could be worth approximately ₹9,500 crore to ₹11,000 crore, including a fresh issue and an Offer for Sale.
3. What is Zepto's latest unlisted share price?
The latest Zepto unlisted share price can be tracked on Precize.
4. Is Zepto profitable?
Not yet. While revenue has grown rapidly, the company continues to report losses as it invests in expansion and market share.
5. Where can investors buy Zepto unlisted shares?
Eligible investors can explore Zepto's unlisted shares through the Precize platform before its proposed IPO.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Investing in unlisted shares carries risks including illiquidity and potential loss of capital. Please consult with a qualified financial advisor before making investment decisions. Precize is not a stock exchange and is not authorized by any capital markets regulator.
