Indian quick commerce unicorn Zepto confidentially filed for a $1.22 billion (₹110 billion) IPO, targeting a 2026 listing as it battles intensifying competition from Swiggy, Zomato, and new entrant Amazon. Despite reporting a 129% revenue surge in FY25, the startup's net losses widened by 177% to ₹33.67 billion, fueling industry warnings, including from rival Blinkit's CEO, that “relentless fundraising” to subsidize burn rates is creating a sector-wide bubble. The filing comes just months after Zepto secured a $7 billion valuation in an October funding round.
