New Delhi, Jun 9 (PTI): Quick commerce major Zepto’s promoters, including co-founders Aadit Palicha and Kaivalya Vohra, will not dilute any of their equity in the company’s upcoming initial public offering (IPO), even as early institutional and venture capital backers prepare to offload up to 11.35 crore shares.
The Bengaluru-headquartered unicorn on Monday filed its updated draft red herring prospectus (UDRHP) with markets regulator Sebi to raise Rs 8,010 crore through a fresh issue of shares alongside the offer for sale (OFS).
According to people familiar with the matter, the overall issue size is estimated at around Rs 11,000 crore. Zepto is expected to launch the IPO in July.
Out of the total OFS of up to 113,466,566 equity shares, the promoter group, which also includes Lazarus Trust and The Vohra Trust, is entirely skipping the share sale. Lazarus Trust and The Vohra Trust are private family trusts settled by co-founders Aadit Palicha and Kaivalya Vohra, respectively.
As per the UDRHP, promoters hold 2,327,948,161 equity shares of face value Rs 5, representing 18.47 per cent of the issued, subscribed and paid-up equity share capital of Zepto.
Instead, Nexus Ventures will be the largest selling shareholder, offloading over 8.77 crore shares through two of its entities.
Nexus Ventures VI Holdings, LLC will sell the largest chunk of up to 57,357,141 equity shares, while Nexus Ventures VII Holdings, LLC will divest up to 30,398,907 equity shares.
Razor Ventures Zepto LLC will offer up to 9,364,174 equity shares, and Contrary ZEP Holdings LLC will sell up to 7,801,378 equity shares.
Additionally, Kaiser Foundation Hospitals will offload up to 4,385,912 shares, and Kaiser Permanente Group Trust will sell up to 4,159,054 equity shares.
Zepto narrowed its net loss to Rs 1,538.67 crore in Q4 FY26, down from Rs 1,831.91 crore in Q4 FY25.
For the 2025-26 fiscal year, Zepto’s loss widened to Rs 5,905.19 crore, compared to a loss of Rs 4,699.71 crore in the previous fiscal.
Zepto’s revenue from operations surged 75.26 per cent to Rs 7,497.64 crore in Q4 FY26, from Rs 4,278.06 crore in Q4 FY25.
Revenue from operations more than doubled to Rs 22,623.58 crore in FY26, as against Rs 11,109.94 crore in FY25.
During Q4 FY26, Zepto handled 21 crore total orders, averaging 23.3 lakh per day. Over the entire fiscal, the platform processed 64 crore orders, averaging over 17 lakh orders daily.
As of March 31, 2026, Zepto had 4.79 crore annual transacting users (ATU), representing a 25 per cent year-over-year growth. Zepto’s total dark store count stood at 1,139. PTI ANK ARB ARB
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