Quick commerce startup Zepto has received approval from Sebi for its initial public offering (IPO), according to people in the know. With this, Zepto will file an updated draft red herring prospectus (DRHP) in the coming six to eight weeks.
The Bengaluru-based company had filed a confidential DRHP back in December for a Rs 11,000-12,000 crore IPO, largely comprising a primary issuance. The final size and pricing, however, remain undecided and could be revised, one of the persons said.
Zepto did not respond to ET’s queries.
ET had reported in April that Zepto had begun engaging institutional investors as part of its pre-IPO roadshows and had pitched targeting full-year post-tax profitability by fiscal 2029, while continuing to grow at 25-30% quarter-on-quarter.