Zepto May Delay IPO as Investors Seek $2.5B-$3B Valuation
Institutional investors are reportedly pushing for a valuation far below Zepto’s $7 billion private-market mark, raising the prospect of an IPO delay. The company plans to use fresh issue proceeds to add 1,904 dark stores while managing continued cash burn.
Zepto may defer its IPO as institutional investors seek a $2.5-$3 billion valuation, far below its $7 billion private valuation. Investors are focused on cash burn despite FY26 revenue nearly doubling; planned IPO proceeds would fund 1,904 dark stores and expansion.
Why this matters
The reported valuation pushback follows signals that Zepto was discussing anchor allocations and targeting an IPO near a $3B valuation, including a ₹2,298 crore anchor book for a ₹5,106 crore offering.
Retail-company signals are accelerating, up +406033% QoQ.
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