Zepto has confidentially submitted its revised prospectus to the Securities and Exchange Board of India. The quick commerce company seeks to raise nearly Rs 10,000 crore through its initial public offering, with a planned listing in July. This would make it the first standalone quick commerce firm to go public in India, following Swiggy and Eternal.
The offering includes a fresh equity issue of Rs 8,010 crore along with an offer for sale by current shareholders, according to the updated draft red herring prospectus filed on June 8. The offer for sale covers up to 1,13,466,566 shares with a face value of Rs 5 each.
The company, led by Aadit Palicha, intends to allocate Rs 520 crore toward marketing and promotion efforts through its subsidiary Zepto Marketplace Private Limited to boost brand visibility.
Investors participating in the offer for sale include Nexus Ventures VI Holdings, Nexus Ventures VII Holdings, Contrary ZEP Holdings, Razor Ventures Zepto, Kaiser Foundation Hospitals and Kaiser Permanente Group Trust. Nexus Ventures VII Holdings owns 4.55 per cent, while Nexus Ventures VI Holdings holds 8.57 per cent. Contrary ZEP Holdings and Razor Ventures Zepto own 1.13 per cent and 1.14 per cent respectively.
Proceeds from the fresh issue will support expansion, including new dark stores in current and additional locations for Rs 1,628.9 crore, lease payments for existing facilities worth Rs 1,734.9 crore, and technology upgrades amounting to Rs 1,324.7 crore.
