Zepto, an Indian quick-commerce startup, has filed for an initial public offering that could be valued at about $1 billion.

Indian quick-commerce startup Zepto has unveiled plans for an initial public offering. The filing offers a look at the startup's growth and plans to sustain it after listing. Zepto's advertising revenue rose more than 151% year-over-year to ₹16.4 billion in fiscal 2026.

Growth and Revenue

Zepto's advertising revenue rose more than 151% year-over-year to ₹16.4 billion in fiscal 2026, outpacing the company's 104% increase in operating revenue to ₹115.5 billion. The startup processed more than 640 million orders in fiscal 2026, nearly double the previous year, while the annual transacting users rose to almost 48 million.

Losses and Funding

Zepto remains loss-making, reporting a net loss of ₹59.1 billion in fiscal 2026, compared with ₹47.0 billion a year earlier. The startup plans to raise up to ₹80.1 billion through a fresh issue of shares and may raise up to ₹16.02 billion from investors in a pre-IPO placement ahead of the listing.

IPO and Valuation

The listing is set to provide a closely watched outcome for some of Zepto's early backers. Several prominent shareholders are not participating in the IPO's offer-for-sale, opting to retain their stakes as the startup prepares for its market debut. Zepto's public-market valuation remains uncertain, and some mutual funds and family offices have indicated valuations well below its last private round.

Regulatory Matters

Zepto's founders received summonses from India's anti-money laundering agency in April, seeking information related to foreign investments and the company's shareholding structure. The founders subsequently appeared before the agency and provided the requested information and documents.