Zepto to file confidential IPO papers today — listing likely between July–September 2026

Aadit Palicha-led Zepto is taking its first formal steps towards launching its much-awaited IPO soon. Sources told CNBC-TV18 that Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities and Motilal Oswal are the Book Running Lead Managers (BRLMs) for the IPO.

According to the latest report by Moneycontrol, the company is likely to file the confidential DRHP with SEBI today.

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About Zepto IPO

Founded in 2020 by Aadit Palicha & Kaivalya Vohra, the Bengaluru-based startup has institutional investors such as General Catalyst, CalPERS, Y Combinator, StepStone Group, Avenir, along with other strategic investors such as Elcid Investments, MapmyIndia, Motilal Oswal, according to Tracxn.

The confidential DRHP route allows companies to submit draft IPO papers to the regulator without immediately making them public.

As per various media reports, Zepto had appointed bankers and was exploring an IPO that could raise around $500 million.

There is no clarity on the final size, and valuation remains undecided.

Aadit Palicha’s company was last valued at about $7 billion during a private funding round earlier this year.

According to reports, if and when Zepto lists, it will join rivals already trading on the bourses, including Eternal, which operates Blinkit, and Swiggy, which runs Instamart.

Quick commerce rivals of Zepto, Eternal and Swiggy will be filing their draft IPO papers today, targeting a listing between July to September of 2026.

As of December 25, Eternal’s market capitalisation stood at around $30 billion, while Swiggy’s was close to $12 billion, as per the report.

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