Zepto has filed its updated draft red herring prospectus for the much anticipated initial public offering (IPO) worth nearly Rs 10,000 crore or $1 billion.
The IPO has a fresh issue of shares worth Rs 8,010 crore and an offer for sale segment aggregating up to 11.3 crore equity shares.
Nexus Ventures VI Holdings is the largest selling shareholder, offloading 57.4 million shares, followed by Nexus Ventures VII Holdings with 30.4 million shares.
Other investors participating in the OFS include Contrary ZEP Holdings LLC, which will sell 7.8 million shares, Razor Ventures Zepto LLC with 9.4 million shares, Kaiser Foundation Hospitals with 4.39 million shares, and Kaiser Permanente Group Trust with 4.16 million shares.
As reported by NDTV Profit earlier, founders Aadit Palicha and Kaivalya Vohra are not among the sellers. The Q-comm company will be raising up to Rs 1,602 crore in pre-IPO placement round, as per the updated DRHP.
The updated filing will pave the way for investor roadshows and move the company closer to a July stock market debut. Zepto had originally filed its IPO papers under the confidential route in December 2025.
The listing comes at a time when India's quick commerce sector is increasingly being judged on scale, profitability and the quality of revenue rather than just growth.
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Sources said Zepto has crossed Rs 10,000 crore in net order value (NOV) in the current quarter, marking a key milestone as competition intensifies among the country's largest quick commerce players.
The company has also significantly reduced cash burn, bringing it down to around Rs 120 per order from nearly Rs 200 a year ago. Internally, Zepto expects another four to five quarters before reaching what it considers an optimal break-even level across the business.
One of the key changes in Zepto's IPO narrative is likely to be its focus on Net Realizable Value (NRV) as a core operating metric.
The move would distinguish Zepto from listed rival Eternal (formerly Zomato), which reports Net Order Value (NOV) for its quick commerce business Blinkit. NOV broadly captures the value of orders transacted on the platform, while NRV seeks to reflect the actual revenue realised by the company, including commissions, service fees and advertising income.
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