Zepto targets 837 million dollar initial public offering
The Indian delivery startup Zepto has filed updated draft papers to raise up to 837 million dollars through a July listing. While the firm reported that annual revenue more than doubled, it also disclosed widening losses and a recent information request from India's financial crime agency.
Zepto will raise up to $837 million in an initial public offering to expand its dark store network and technology infrastructure. The updated draft filing follows a confidential December submission and intensifies competition with listed rivals ETERNAL LTD and SWIGGY LTD. The listing marks a critical milestone for the quick commerce sector as firms race to dominate India's 10-minute delivery market.
### Growth Fueled by Widening Losses Zepto revenue more than doubled to 226.24 billion rupees in the fiscal year ended March 31. However, losses widened to 59.05 billion rupees from 47 billion rupees during the previous year. Zepto attributed the deficit to soaring costs associated with its rapid expansion.
