Live IPO GMP, Allotment & Subscription for India

Zepto IPO

Zepto, operating under Kiranakart Technologies Private Limited, is a 10-minute grocery delivery platform founded in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra. The company runs a company-owned dark-store network across India's metros — 1,000-3,000 sqft micro-warehouses placed every 2-3 km within delivery range — that picks SKUs and dispatches via two-wheeler riders with a target SLA of 10 minutes. As of 31 March 2026 Zepto operated 1,139 dark stores, carried over 46,000 SKUs, and was processing more than 2.3 million orders per day in Q4 FY26. The original incarnation of the founders' company was KiranaKart — an aggregator linking customers to neighbourhood kirana stores. That model failed to achieve scale economics. In late 2021 the business pivoted to a fully company-owned dark-store + own-delivery-fleet structure under the Zepto brand, funded by consecutive rounds that took the valuation from sub-$200 million pre-pivot to $7 billion at the October 2025 round. Zepto competes primarily against Blinkit (owned by listed Eternal/Zomato) and Swiggy Instamart (owned by listed Swiggy Limited). The three-way market is structurally a duopoly+1 in most cities. Q-commerce has shifted from a 'speed novelty' framing to a 'price-and-assortment-competitive grocery channel' — a structural change that materially affects unit economics and each operator's path to profitability. On the IPO track: Zepto filed a confidential DRHP with SEBI on 26 December 2025, received SEBI's observation letter on 8 May 2026, and filed its Updated DRHP (U-DRHP) in early June 2026 (8-9 June). The U-DRHP sets a fresh issue of ₹8,010 crore alongside an offer-for-sale of up to ~11.35 crore (113,466,566) equity shares by six selling shareholders. The price band, lot size, dates and final rupee issue size will be set in the RHP.