Zepto Files for IPO: Quick Commerce Leader Plans ₹11,000 Crore Fundraise Amid Rising Competition

Zepto, one of India’s fastest-growing quick-commerce startups, has quietly moved a step closer to the stock market. The company has filed confidential documents for its IPO as competition intensifies across India’s rapid delivery space.

Zepto Set to Launch IPO Soon, Company Files Draft Prospectus

Zepto files for IPO; plans major capital raise

India’s quick-commerce startup Zepto has filed for its Initial Public Offering (IPO).
According to the public notice issued by the company, Zepto has officially begun the process of launching its issue.

The company plans to raise ₹110 billion (₹11,000 crore) in fresh capital.

Research platform Tracxn reported that during its last funding round in October, Zepto was valued at $7 billion.
Zepto further stated that it has filed its draft prospectus confidentially, which keeps the filing private — and the company declined to share more details at this time.

Online delivery market heats up

Quick commerce has rapidly become one of the most competitive sectors in India’s online marketplace.

Amazon, which has long offered same-day deliveries through Amazon Fresh, intensified competition with its 15-minute delivery service “Amazon Now,” launched in June.
The company has rolled out its quick-commerce services in Mumbai, Delhi, and Bengaluru.

Amazon India Country Manager Sameer Kumar said on December 1 that the company plans to build over 300 small warehouses across these three cities by the end of the year.

Growing share of quick commerce in India

Karan Taurani, Senior Executive at brokerage firm Elara Capital, explained on a business show that quick commerce currently accounts for around 10% of India’s total e-commerce market, but could grow to 40–50% in the coming years.

Flipkart, owned by Walmart, launched its quick-commerce service in 2024.
Meanwhile, Swiggy and Eternal (which owns Zomato and Blinkit) were among the early movers in the segment.

Taurani added that over the past 3–5 years, many players have entered quick commerce and are aggressively cutting prices to capture market share.

Is the market becoming a bubble?

Massive investments continue to pour into the sector.
Earlier this month, Swiggy raised about ₹10,000 crore to expand its quick-commerce delivery network, particularly for warehouses located close to densely populated neighborhoods.

However, industry experts warn that such heavy spending may be unsustainable in the long run.

Reports suggest that Blinkit CEO Albinder Dhindsa has cautioned that the sector could face a bubble burst, as companies keep raising capital to offset large losses.

• Zepto’s losses reportedly rose to ₹33,670 crore in FY25, up from ₹12,150 crore the previous year.

• According to LSEG data, Swiggy recorded a loss of ₹31,170 crore in FY25, compared to ₹23,500 crore earlier.

• Eternal, meanwhile, reported a profit of ₹5,270 crore in FY25.

Taurani warned that if companies fail to move toward profitability, the risk of a quick-commerce bubble will continue to increase.