Indian quick commerce startup Zepto begins pre-IPO roadshows targeting a June-July listing at up to $1.4B in fundraising

Zepto, a Bengaluru-based 10-minute delivery startup, has begun engaging institutional investors ahead of a planned June-July IPO that would raise roughly Rs 11,000-12,000 crore, as the company pitches a path to full-year profitability by FY2028-29 and breakeven by FY2028. The company has reduced its quarterly cash burn from Rs 1,200-1,300 crore to Rs 850-900 crore by holding its dark store count steady at around 1,100 while growing order volumes to 2.4-2.5 million per day, differentiating itself from larger rival Blinkit by targeting more value-conscious customers. Investors are raising valuation concerns given that Zepto's last private round valued it at $7B in October 2025, while publicly traded rivals Eternal and Swiggy have seen their stocks fall 15-30% year to date.