Zepto's shares have seen a significant decline in the unlisted market, dropping from around Rs 52 to about Rs 40, even as the quick commerce startup received approval from Sebi for its IPO. This decline reflects broader market reassessment rather than company-specific issues, with Zepto valued at approximately Rs 38,000 crore.
The fall in Zepto's share price comes amid a challenging environment for IPOs, with many companies delaying their public offerings due to market volatility, geopolitical tensions, and uncertain investor demand. The benchmark Nifty has been under pressure throughout 2026, and foreign institutional investors remain cautious about Indian equities.
Zepto is preparing for a public market debut that could raise around $1.3 billion, or roughly Rs 11,000-12,000 crore, making it one of the largest internet IPOs since Swiggy's listing. The offering is expected to include a substantial fresh issue of around Rs 11,000 crore and an offer-for-sale component by existing investors.
The company competes with major players like Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now in India's fast-growing quick commerce sector. The IPO is expected to strengthen Zepto's balance sheet as it continues to invest in expansion and customer acquisition.
Zepto had around Rs 7,000 crore in cash as of late last year, significantly lower than its listed rivals. The company raised $450 million in October at a $7 billion valuation and has been aggressively acquiring customers through discounts and promotions.
Background
The IPO, managed by a consortium of investment bankers, is expected to hit the market in the July-September quarter of 2026. While the recent decline in unlisted share prices may reflect market caution, investors will closely watch the final valuation and market conditions when Zepto launches its public offering.
The IPO, managed by a consortium of investment bankers, is expected to hit the market in the July-September quarter of 2026. While the recent decline in unlisted share prices may reflect market caution, investors will closely watch the final valuation and market conditions when Zepto launches its public offering.
