Zepto to File Revised Draft Registration Statement Ahead of Planned IPO Roadshow Schedule

Zepto Prepares to File Updated Draft Red Herring Prospectus with SEBI

Quick commerce startup Zepto, led by Aadit Palicha, is set to file its updated draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) early next week, according to people familiar with the matter. The company is also preparing to begin investor roadshows soon after the filing as it works towards launching its initial public offering (IPO) later this month or in July.

Zepto had previously received SEBI's approval for its public issue and was targeting a listing within 60-90 days of the regulatory nod, as reported by Moneycontrol earlier. The company is now expected to proceed with the updated filing, which will include its latest financial and operational metrics.

The planned IPO comes amid rapid growth in Zepto's business over the past year. The company's daily order volumes have risen to more than 2.5 million orders a day, up from around 1.5-1.7 million orders previously. Additionally, Zepto is nearing a quarterly net order value (NOV) milestone of nearly $1 billion. NOV, a key operating metric tracked by quick commerce companies, measures the value of orders after accounting for cancellations, returns, and discounts.

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Zepto has nearly doubled its quarterly NOV from roughly $500 million in late 2025 to almost $1 billion currently, reflecting the scale-up of its grocery-led quick commerce operations. The company counts advertising revenue towards its NOV, which it calls Net Realizing Value (NRV).

The updated DRHP is expected to provide investors with a fresh look at the company's financial performance, operating metrics, store expansion plans, and use of IPO proceeds. Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has emerged as one of India's largest quick commerce players, competing with Eternal-owned Blinkit, Swiggy Instamart, and Flipkart Minutes in an increasingly competitive market.

Zepto had confidentially filed its IPO papers in December last year before receiving SEBI's observations earlier this year, paving the way for the public filing process. With roadshows expected to begin shortly, Zepto is likely to start engaging domestic and global institutional investors as it seeks to complete one of the most closely watched public offerings in India's consumer internet sector.

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