Zepto is heading for an IPO
An IPO has been announced. Issue details are on the IPO page.
Zepto Unlisted Shares
Zepto is India's fastest-growing quick commerce platform delivering groceries and essentials in 10 minutes across 10+ cities through a network of dark stores.
Read the full company profileZepto share details
- Lot size
- 10 shares
- Min. investment
- ₹295
- Face value
- ₹5
- Implied market cap
- ₹37,179 Cr
- Shares outstanding
- 12,603,195,213
- Website
- zepto.com
- ISIN
- INE143401029
- CIN
- U46909KA2025PTC196718
- Lock-in after IPO
- 6 months
Zepto share price chart
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
Zepto IPO status: SEBI approved
Zepto has SEBI's approval (observations) for its IPO, which is valid for 12 months from the date it was issued.
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8 May 2026SEBI approved the IPO
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9 Jun 2026Updated DRHP (UDRHP) filed with SEBI
About Zepto
When is the Zepto IPO?
Strengths
- Revenue from operations grew to ₹226,235.84 million in FY26 from ₹111,099.47 million in FY25 and ₹44,545.16 million in FY24, a growth of 103.63% in FY26 as per the updated DRHP.
- Orders rose to 640.18 million in FY26 from 332.11 million in FY25, with orders per day at 1,753,915 against 909,881 a year earlier.
- Annual transacting users reached 47.97 million as of March 31, 2026, up from 38.38 million a year before, showing a widening user base.
- Advertisement revenue grew to ₹16,357.26 million in FY26 from ₹6,512.41 million in FY25, and advertisement receipts were 7.78% of the base, giving a second income stream beyond commissions.
- The dark store network grew to 1,139 stores at the end of FY26 from 1,029 a year earlier, and orders per day per store rose to 1,677 from 1,565, which points to better use of each store.
- The cash burn is easing relative to scale: Adjusted EBITDA margin improved to (20.32)% in FY26 from (35.59)% in FY25, and free cash flow per order improved to ₹(67.63) from ₹(160.56).
- The company reported closing cash including investments of ₹56,805.27 million as of FY26 and no borrowings in the FY26 and FY25 restated figures.
- The company is founder-led, and the DRHP lists a technology-native culture and a data-driven approach to assortment as part of its stated business strengths.
Risks
- The company has made losses since inception. The restated loss was ₹59,051.92 million in FY26, ₹46,997.14 million in FY25 and ₹12,147.94 million in FY24, and it may keep losing money if growth slows.
- Cash generation is negative. Net cash used in operating activities was ₹34,624.42 million in FY26 and free cash flow was ₹(43,295.42) million, so the business depends on outside capital to fund itself.
- Adjusted EBITDA was ₹(50,415.54) million in FY26, which is still a large negative number even after the margin improved.
- Net worth fell to ₹35,595.99 million in FY26 from ₹61,478.43 million in FY25 as losses ate into equity, and return on net worth was (165.89)%.
- Competition is intense across quick commerce, and keeping users with low prices and fast delivery can keep costs high.
- The company started operations in July 2021, so its track record at the current scale is short and past growth may not repeat.
- All 1,139 dark stores and 75 warehouses are on leased or licensed premises, so rent and lease renewals directly affect costs and any failure to expand cost-effectively hurts results.
- The business relies on Delivery Partners, Merchant Partners and Brand Partners, and failing to attract or keep them could hurt service and advertisement income.
- The company may need more capital to support growth, and it may not be available on acceptable terms.
- The service depends on its information technology systems, and an outage could damage operations and reputation. Unlisted share prices are also indicative only, since trades happen off-market.
Zepto financial performance
Revenue, profit and balance-sheet figures by fiscal year.
| Metric | FY26Latest | FY25 | FY24 |
|---|---|---|---|
| Revenue (₹ Cr) | 22,624 | 11,110 | 4,455 |
| EBITDA (₹ Cr) | -4,746 | -4,154 | -1,029 |
| PAT (₹ Cr) | -5,905 | -4,700 | -1,215 |
| EBITDA Margin (%) | -20.98 | -37.39 | -23.10 |
| PAT Margin (%) | -26.10 | -42.30 | -27.27 |
| Debt / Equity | 0.00 | 0.00 | 0.06 |
| Net Worth (₹ Cr) | 3,560 | 6,148 | 2,864 |
Swipe the table sideways for earlier years →
Events & announcements
Zepto filed an updated draft offer document with SEBI, the step after a confidential pre-filing.
SEBI issued its observations on the draft offer document, which lets the company launch the IPO within 12 months.
Buy or sell Zepto unlisted shares
Get a live quote on WhatsApp in under 60 seconds. Current price ₹29.50. Shares are delivered to your own demat in 24–48 hours, never to a custodian.
Indicative off-market price, not an exchange quote. Read the disclaimer.
Zepto unlisted shares: common questions
Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
