Bengaluru-headquartered quick commerce platform, Zepto is gearing up to file its draft red herring prospectus (DRHP) on December 26 through the confidential filing route, with plans to debut on Indian bourses sometime next year, sources with knowledge of the matter told FE.
“Stakeholder communication regarding the confidential route filing is most likely expected on December 26,” a person familiar with the developments said.
Zepto did not officially respond to requests for comments at the time of going to the press.
Confidential Route
The IPO will position Zepto alongside Eternal’s Blinkit and Swiggy’s Instamart, both already trading publicly. As of December 25, Eternal commands a market capitalisation of approximately $30 billion, while Swiggy stands at around $12 billion.
Zepto’s listing would make it one of India’s youngest startups to tap public markets, with the feat expected within 6 years since incubation.
Comparing Zepto, Blinkit, and Swiggy
Zepto’s most recent private funding round of $450 million, earlier this year pegged its valuation at roughly $7 billion. The IPO pricing, however, remains unknown.