Quick commerce unicorn Zepto converts to public company ahead of IPO

Quick-commerce unicorn Zepto has changed from a private company to a public limited company as it prepares for an IPO. 

It has updated its name from Zepto Private Limited to Zepto Limited, according to filings with the Ministry of Corporate Affairs.

The Bengaluru-based quick-commerce company, which may go public next year, is expected to file its draft red herring prospectus soon.

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At an extraordinary general meeting on November 21, the company approved three resolutions. Besides becoming a public company, it also updated its memorandum of association (MoA) and articles of association (AoA).

Zepto has been raising money quickly over the past few months. Last year, it secured $665 million in June, $340 million in August, and $350 million in November. This year, in October, it closed another funding round of about $450 million, valuing the company at $7 billion.

In a statement, a Zepto spokesperson said: “We are growing 20-25 per cent every quarter on order volume, and burn is going down. That’s why we’re able to reduce capital because we’re able to show investors that in relative terms we’re able to deliver reasonable capital efficiency for 100 per cent-plus year-on-year growth.”

About Zepto

Founded in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto runs a quick-commerce service that delivers groceries, electronics, and other daily essentials in just 10 minutes. As of September 2025, the unicorn reportedly had over 900 dark stores.

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In October, Zepto raised $450 million (about INR 3,955 crore) through a mix of primary and secondary funding at a $7 billion valuation. Earlier this year, it also received INR 400 crore (around $45.7 million) from Motilal Oswal Financial.

Financially, Zepto’s revenue jumped 149%, reaching INR 11,100 crore in FY25, up from INR 4,454 crore the previous year.

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