Zepto IPO
Price Band
₹ – ₹
Lot Size
Minimum Bid Quantity
Not Announced
Minimum Investment
₹0
Issue Size
₹0Cr
Opens
Closes
Listing
Not Announced
IPO Details
Issue Type
EQUITY
Face Value
₹1
Tick Size
1
ISIN
ZEPTOISIN123
Pre-Apply Available
No
Daily Bidding Time
-
About the Company
Zepto Limited is the fastest-growing quick commerce platform in India, focused on delivering groceries, fruits, vegetables, and a wide assortment of household products to users in under 10 minutes. The company operates a marketplace model, leveraging a network of over 1,139 strategically located 'dark stores' as of March 2026. Its business model relies on a proprietary technology stack for its app, warehouse management, last-mile delivery, and brand advertising, serving both end-consumers and providing B2B services to wholesalers and retailers.
Pros
- • As India's fastest-growing quick commerce platform, Zepto's order volume grew at a CAGR of approximately 119.50% between Fiscal 2024 and Fiscal 2026, significantly outpacing the industry. This market leadership is mirrored in its financial performance, with revenue from operations skyrocketing from ₹4,454.52 Crores in FY24 to ₹22,623.58 Crores in FY26.
- • The company's 'densification flywheel' strategy is improving operational efficiency, evidenced by the Average Distance per Order decreasing from 2.05 km in FY24 to 1.78 km in FY26, while the Orders Per Day (OPD) per store increased from 1,325 to 1,677 in the same period.
- • Zepto is demonstrating significant improvements in unit economics, with Fixed Cost per Order reducing from ₹80.72 in Q1 FY24 to ₹52.34 in Q4 FY26. Concurrently, Digital Marketing Cost per Order has dramatically decreased from ₹10.82 to ₹1.01 in the same period, indicating increased brand salience and user retention.
Cons
- • The company has a history of significant and growing losses, with restated loss for the year increasing from ₹1,214.79 Crores in FY24 to ₹5,905.19 Crores in FY26. It has also consistently generated negative cash flows from operating activities since its inception.
- • Business growth is critically dependent on acquiring and retaining users, which has historically required significant marketing expenditure. Advertisement expenses increased from ₹303.55 Crores in FY24 to ₹1,389.12 Crores in FY26, representing 6.14% of revenue from operations in the latest fiscal year.
- • The business model is heavily reliant on a non-exclusive 'gig economy' network of delivery partners and a wide base of merchant partners. In FY26, delivery and handling expenses amounted to ₹3,046.34 Crores, highlighting a major cost center and dependency for its core service.
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