India’s IPO slowdown pushes Zepto to pre-IPO sale; PhonePe delays listing
Weak equity markets are forcing Indian issuers to lower valuations, trim deal sizes or wait. Quick-commerce player Zepto has opted for a pre-IPO share sale after a valuation reset, while Walmart-backed PhonePe has deferred listing plans. Jio Platforms’ expected IPO timing remains market-dependent.
India’s weaker IPO market is prompting issuers to cut valuations, reduce deal sizes or defer listings. Quick-commerce firm Zepto chose a pre-IPO share sale after a lower valuation, while Walmart-backed PhonePe deferred its listing plans.
Why this matters
Zepto’s pre-IPO sale follows its reported IPO deferral to 2027, planned $105M round and July valuation reset to $3.5–4B with a smaller issue.
Retail-company signals are accelerating, up 224150% QoQ.