Zepto takes key step toward IPO, converts into a public company: Report

Aadit Palicha-led quick commerce unicorn Zepto has reportedly taken a key step towards going public by converting itself into a public limited company, according to a PTI report.

It has changed its registered name from Zepto Private Limited to Zepto Limited following a special resolution passed by its shareholders, the report noted.

The change is part of its preparation for an initial public offering. Zepto is expected to file its draft prospectus before December 15.

The development comes after Zepto raised $450 million in a funding round, of which about $300 million came as primary capital from existing investors including Lightspeed, Avenir Growth and General Catalyst.

The round valued the company at $7 billion. It is expected to raise $450 to $500 million in fresh capital through its IPO.

Zepto posted revenue of Rs 4,454 crore in FY24, more than double the Rs 2,026 crore it recorded in FY23. Losses narrowed slightly from about Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. For FY25, it reported revenue of nearly Rs 11,110 crore.