The Enforcement Directorate sought details on foreign investments and overseas investments, audited balance sheets since FY21, owned immovable properties, shareholding pattern, loans and guarantees, income tax returns, bank accounts, and a note on Zepto’s business model, according to the updated prospectus.
Vohra appeared before the ED on April 17 and April 22, while Palicha appeared on April 20 and May 15, the filing showed. Zepto said the two promoters had provided the information and documents sought by the agency, along with follow-on information requested after their interactions with the directorate.
“As on the date of this Updated Draft Red Herring Prospectus-I, they have provided relevant information and documents as requested by ED pursuant to the summons, as well as follow-on information requested by the ED further to their interactions,” the company said in its filing.
The company said the additional information included details on its holding structure, scheme of arrangement, and business-related documents, such as agreements and invoices.
Parimatch probe
ET had earlier reported that the directorate had asked Zepto to join its investigation into alleged money laundering involving Parimatch, a Cyprus-based betting platform banned in India.
According to the ED, Zepto ran promotional campaigns on the illegal betting app and also circulated flyers with customer orders, effectively delivering gambling-related advertisements directly to households.
The updated prospectus, however, does not name Parimatch or specify whether the FEMA summons were linked to that matter.
Zepto IPO details
The quick commerce company filed its updated draft red herring prospectus on Monday for a $1 billion (Rs 9,500 crore) initial public offering. The IPO will comprise a fresh issue of shares worth Rs 8,010 crore and an offer-for-sale (OFS) of 113 million shares by existing shareholders, according to the updated prospectus.
Nexus Venture Partners, Contrary Capital, Kaiser Permanente, and Dubai-based Razor Capital plan to sell shares in the company through the OFS.
Zepto reported a 75% jump in consolidated revenue for the fourth quarter of FY26 to Rs 7,498 crore and narrowed its net loss to Rs 1,539 crore from Rs 1,832 crore a year earlier, the filing showed.