Zepto IPO date, size and latest status

Updated October 2026

The Zepto IPO date has not been announced yet. Zepto put the IPO on hold on 31 July 2026 and now aims to list between February and May 2027. SEBI approved the issue on 8 May 2026, and Zepto says it has until November 2027 to list. No price band has been set.

The updated papers show a ₹8,010 crore fresh issue plus an offer for sale. Zepto lost ₹5,905 crore in FY26 on total income of ₹23,128 crore.

Not financial advice. A neutral summary of public information. It does not recommend buying, selling or holding any security. Read the offer document and speak to a SEBI-registered adviser before you invest.

Zepto would be the first of India’s big three quick commerce apps to list on its own. Blinkit and Instamart are listed only as parts of Eternal and Swiggy. Zepto’s IPO papers gave the first detailed look at its own numbers, which can now sit beside the quarterly results of Blinkit and Instamart.

Zepto IPO timeline, from draft papers to the delay

Dec 2020: Company set up. Incorporated as Kiranakart Technologies.
Apr 2025: Renamed Zepto. The company changed its name to Zepto.
Oct 2025: Last private round at about US$7 billion. A US$450 million round led by CalPERS.
Dec 2025: Confidential draft IPO papers. Zepto became a public limited company and filed draft IPO papers through SEBI’s confidential pre-filing route, around the turn of the year.
30 Dec 2025: Distributors object. The All India Consumer Products Distributors Federation wrote to SEBI opposing IPOs by loss-making quick-commerce companies.
8 May 2026: SEBI approval. SEBI issued its observation letter, clearing the IPO. The approval is valid for 18 months.
Early Jun 2026: Updated IPO papers. Fresh issue of ₹8,010 crore plus an offer for sale of about 11.35 crore shares. Estimates of the total size ranged from about ₹9,500 crore to ₹11,000 crore. A July listing was the target.
31 Jul 2026: IPO put on hold. Zepto paused the IPO after investors, led by domestic mutual funds, were said to value it at US$2.5–4 billion, well below the US$7 billion of October 2025. Zepto gave no figure, and press estimates at the end of July 2026 varied within that range.
31 Jul 2026: Pre-IPO round instead. Zepto chose to raise more than ₹1,000 crore from existing investors. Money raised before an IPO comes off the planned fresh issue, so the ₹8,010 crore figure will shrink.
31 Jul 2026: New target: February to May 2027. At a staff town hall, co-founder Aadit Palicha said Zepto aims to list in the next two to three quarters. It will not refile its papers. It will add updated financial statements to the existing filing, and it has until November 2027 to list.
18 Oct 2026: Latest status. No red herring prospectus, price band or issue dates had been announced.

What has to happen before Zepto lists

Updated financials. Zepto adds newer financial statements to its existing IPO papers. They will be the first figures after March 2026.
Red herring prospectus. Zepto files the final offer document with the price band, lot size and issue dates.
Subscription. The issue opens for bids from institutions, wealthy investors and retail investors.
Allotment and listing. Shares are allotted and Zepto starts trading on NSE and BSE.

Until step two, any date you see for the Zepto IPO is a guess.

Zepto IPO size, price band and lead managers

Fresh issue	₹8,010 crore in the updated papers, less the pre-IPO round of more than ₹1,000 crore
Offer for sale	About 11.35 crore shares, from Nexus Ventures, Contrary, Razor Ventures and two Kaiser Permanente entities. Founders are not selling.
Price band, lot size, dates	Not announced
Allocation	At least 75% of the net offer to qualified institutional buyers; up to 15% to non-institutional; at least 10% to retail
Lead managers	Axis Capital, Goldman Sachs India, HSBC Securities, IIFL Capital, JM Financial, Morgan Stanley India, Motilal Oswal
Registrar	KFin Technologies
Exchanges	NSE and BSE

How Zepto plans to use the IPO money (₹ crore)

Expanding the dark-store network	1,628.98
Lease rentals for existing dark stores	1,734.94
Technology and cloud infrastructure	1,324.78
Marketing via subsidiary Zepto Marketplace Pvt Ltd	520.00
Inorganic growth and general corporate purposes	Not quantified

Zepto revenue, losses and orders before the IPO

₹ crore (restated)	FY24	FY25	FY26
Total income	4,544	11,603	23,128
Revenue from operations	Not shared	11,110	22,624
EBITDA	−1,029	−4,154	−4,746
Adjusted EBITDA (Zepto’s own measure)	n/a	−4,522	−5,042
Loss after tax	−1,215	−4,700	−5,905
Net worth	2,864	6,148	3,560

Scale (31 March 2026): 1,139 dark stores in 66 cities, about 48 million annual transacting users and about 23.3 lakh orders a day in January–March 2026.
Orders: 640.2 million in FY26, giving Zepto about a 32.5% share of orders across Blinkit, Zepto and Instamart combined.
Advertising: ₹1,636 crore of ad income in FY26, about 8% of net receivables value. NRV is Zepto’s own measure of the value of orders it handles.
Franchise stores: 36.6% of stores were run by “Growth Partners”, Zepto’s form of dark store franchise, at the end of FY26.
Cash: about ₹2,800 crore (July 2026). Quarterly cash burn fell from over ₹900 crore to about ₹700 crore by the time of the IPO pause.

Risks for Zepto IPO investors

Zepto is still losing money, and its losses are the largest of the three big apps.
It spends heavily on dark stores, leases and winning customers. Leases alone take ₹1,735 crore of the proposed fresh issue.
It has faced regulators: a ₹7 lakh consumer-regulator fine for dark patterns in December 2025 and food-safety action against some warehouses, both logged in the quick commerce rules timeline.
Listed rivals have more cash, and Flipkart Minutes and Amazon Now are growing.

Zepto’s store network by city and figures by quarter show where it stands today, and Blinkit vs Zepto sets it against the market leader city by city.

Frequently asked questions about the Zepto IPO

How can I apply for the Zepto IPO?

You cannot apply yet, because there are no dates or price band. Once the issue opens, you can apply with a demat account through your broker’s app using UPI, or through your bank’s net banking (ASBA). At least 10% of the net offer is kept for retail investors.

Can I buy Zepto shares before the IPO?

Some platforms sell unlisted Zepto shares from employees and early investors. Their prices are set privately, not on an exchange, and such shares can be hard to sell before a listing. Treat any quoted pre-IPO price with care.