Quick commerce startup Zepto has put its IPO plans on hold and is exploring a pre-IPO fundraise of about $105 million (Rs 1,000 crore), according to a Moneycontrol report.
The proposed round is likely to see participation from existing backers such as Glade Brook Capital, General Catalyst, Goodwater Capital, and Nexus Venture Partners, the report said.
Under current regulations by the Securities and Exchange Board of India, companies preparing to go public can raise up to 20% of their proposed fresh issue via a pre-IPO placement. However, any capital raised through this route is adjusted against the fresh issue size, limiting the amount that can subsequently be raised through the IPO.
Zepto had earlier planned an IPO of around Rs 8,000 crore but has since scaled down the issue size to approximately Rs 5,000–6,000 crore.
The report added that prospective investors, particularly domestic mutual funds, are currently valuing the company in the range of $2.5-3 billion (Rs 24,000–29,000 crore) on a post-money basis. This marks a sharp correction from earlier expectations of a $5-billion valuation.
The Bengaluru-based company was valued at $7 billion in its previous funding round in October 2025 when it raised $450 million led by the California Public Employees’ Retirement System (CalPERS), a US-based pension fund; along with existing investor General Catalyst.
Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto offers over 25,000 products, spanning groceries to electronics, with a 10-minute delivery promise.
