Motilal Oswal Founders Buy Shares Worth $100 Million In Zepto

Motilal Oswal and Raamdeo Agrawal, founders of Motilal Oswal Financial Services, personally bought Zepto shares worth $100 million in a secondary deal, according to sources.

This move has raised Zepto’s domestic shareholding to over 35%, keeping its valuation steady at $5 billion. Oswal and Agrawal each invested $50 million, buying shares from some of Zepto’s global investors, including Nexus Venture Partners and Lachy Groom. 

Sources said no foreign investor fully exited—only a small portion of their shares was sold to help boost the company’s Indian ownership.

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Recently, the quick commerce unicorn has been working to raise its share of Indian investors. A source said the company aims to have over 50% domestic ownership before going public.

Zepto is planning its IPO either in late 2025 or early 2026.

In January, the company moved its base from Singapore to India and set up its headquarters in Bengaluru to meet listing rules.

Along with the recent share purchases, Motilal Oswal (the firm) is also leading another secondary round in Zepto worth over $250 million.

Edelweiss and Hero FinCorp will also take part in this round. A binding agreement has been signed, and Zepto is expected to officially announce the deal in June after due diligence is completed, the source said.

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