On one hand, Zomato and Swiggy are facing tough competition on the delivery front. Now we may have to face a big challenge in the stock market also. To blow the minds of both the companies, Zepto, a company that delivers daily essential goods, is coming out with its IPO. On Friday i.e. today the company will secretly file its draft paper in the SEBI office. Experts say that the size of Zepto IPO can go up to Rs 11 thousand crores or more. But no official information has been revealed yet. Whatever information has come to light so far, it has been done quoting all the sources.
Zepto on the path of Zomato-Swiggy
If the draft proposal for IPO is approved by SEBI, Zepto will become one of the newest startup firms to be listed on the Indian stock exchange. With the launch of IPO, Zepto will stand in line with its sector rivals Zomato and Swiggy, which are already listed in the stock market. The company intends to be listed on the stock exchange next year. Giving information, sources familiar with the matter said that Zepto is going to file the draft proposal DRHP for the issue with SEBI on December 26. No official information has been given by the company yet.
Secret way to open your IPO
According to sources, Zepto is preparing to apply for IPO through confidential route. Under this route, the company can have preliminary discussions with SEBI without making its draft document public. In recent years, the secret IPO route has become popular among companies who want more flexibility in considering the market conditions before the IPO and want to get early advice from the regulator.
How much money could the company raise
The current valuation of Zepto is estimated at seven billion US dollars. The company has raised a total fund of $ 1.8 billion (about Rs 16,000 crore) since its formation. The company had achieved the status of being a unicorn i.e. a company with a valuation of more than one billion dollars in August 2023. This company was founded by Adit Palicha and Kaivalya Vohra, youths who left their studies incomplete from Stanford University. Zepto rapidly expanded into major Indian cities by adopting the model of delivering groceries in 10 minutes.
