Zepto Set To File Updated DRHP Next Week; IPO Size May Cross ₹10,000 Cr

Quick commerce startup Zepto is preparing to file an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) early next week, according to media reports, as it moves closer to launching one of India's biggest new-age technology IPOs.

The Aadit Palicha-led company is also expected to begin investor roadshows shortly after the filing as it targets a public market debut later this month or in July.

The updated filing comes after Zepto reportedly received SEBI's approval for its proposed public issue earlier this year. The company is expected to include its latest financial performance, operating metrics and business updates in the revised prospectus.

IPO Size May Exceed ₹10,000 Cr

According to media reports, Zepto is now looking to raise more than $1 billion, or over ₹10,000 crore, through the IPO.

The proposed issue size is higher than the earlier estimated range of $800 million to $1 billion and could make it one of the largest technology listings in India in recent years.

The increase in the targeted fundraising amount reflects growing confidence in investor appetite as the company continues to scale rapidly in the highly competitive quick commerce market.

The planned listing comes amid strong operational growth. Earlier reports indicated that Zepto's daily order volumes had crossed 2.5 million orders, up from around 1.5-1.7 million orders previously.

The company is also reportedly approaching a quarterly net order value (NOV) of nearly $1 billion. NOV is a key metric used by quick commerce firms and measures the value of orders after accounting for cancellations, returns and discounts.

Zepto's quarterly NOV has nearly doubled from approximately $500 million in late 2025 to almost $1 billion currently, reflecting rapid expansion across its grocery-led quick commerce business.

Unlike some peers, Zepto includes advertising revenue within this metric, which it refers to as Net Realising Value (NRV).

Road To Listing

The updated DRHP is expected to provide investors with fresh details on the company's financial performance, store expansion strategy and utilisation of IPO proceeds.

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto has emerged as one of India's leading quick commerce players and competes with rivals such as Blinkit, Swiggy Instamart and Flipkart Minutes.

The company had confidentially filed its IPO papers in December last year before receiving regulatory observations from SEBI, paving the way for the public filing process.