Zepto unlisted shares have fallen nearly 30% since April 2026.
Quick commerce firm plans a ₹7,500-9,300 crore IPO.
Zepto processes over 2.5 million daily orders despite valuation concerns.
Shares of quick commerce startup Zepto have fallen nearly 30% in the unlisted market since the start of April according to data available on unlistedZone, despite the company receiving approval from market regulator Sebi for its proposed initial public offering.
The stock, which traded around ₹58 per share at the beginning of April, has slipped to nearly ₹40- ₹42 currently. It is also down around 40% from its December peak of ₹68 per share, reflecting cautious sentiment in the unlisted market ahead of the company's public market debut.
1 May 2026
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The correction comes even as Zepto moves ahead with its IPO plans. Earlier, Moneycontrol reported that the company is looking to raise between $800 million and $1 billion, or approximately ₹7,500 crore to ₹9,300 crore, through the public issue. The company is expected to update its draft red herring prospectus and target a stock market listing within the next 60-90 days.
Once listed, Zepto will become the only pure-play quick commerce company on Indian stock exchanges. The company began preparations for its IPO in September 2024 after appointing investment bankers for the issue.
Growth Remains Strong
The decline in the unlisted market has come despite strong operational growth. According to Moneycontrol, Zepto was earlier processing around 1.5 million to 1.7 million orders per day and is now delivering more than 2.5 million orders daily.
However, investors continue to closely monitor the company's profitability and valuation amid intensifying competition in the quick commerce segment.
Zepto is also expected to raise a larger amount than initially planned as competition heats up with rivals such as Blinkit, Instamart, Amazon's Amazon Now, Flipkart Minutes and Tata-backed BigBasket expanding aggressively.
Unlisted Market Remains Volatile
The broader unlisted market also witnessed mixed trends. Shares of Fino Paytech declined 17%, while National Commodity and Derivatives Exchange (NCDEX) fell 14% and API Holdings dropped 12%.
Among gainers, Metropolitan Stock Exchange of India and Chennai Super Kings rose 16% each. Stocks such as Motilal Oswal Home Finance, National Stock Exchange of India and Nayara Energy traded marginally lower, while SBI Funds Management edged higher.
Market experts said sentiment in the unlisted market remains volatile amid geopolitical tensions involving the US and Iran, leading to cautious investor participation and lower trading activity.
