Business
India's Zepto files for IPO as quick-commerce race heats up
India's Zepto files for IPO as quick-commerce race heats up
About this update from Eternal Limited
Indian quick-commerce firm Zepto has confidentially filed for an initial public offering, a regulatory filing showed on Saturday, positioning itself among India’s most anticipated listings next year. Quick-commerce firms in India are locked in an intense battle for market share, pouring in billions to open more stores as India's growing urban consumer base increasingly opts for 10-minute deliveries for everything from groceries to electronics.Founded in 2021, Zepto offers over 45,000 products and competes with rivals such as Eternal's NSE:ETERNAL Blinkit and Swiggy's NSE:SWIGGY Instamart.The IPO plan comes at a time when Indian markets are set for a record fundraising in 2025.Zepto was valued at $7 billion in its previous funding round in October when it raised $450 million. The confidential route allows companies to keep their IPO filings private until the launch.