Quick commerce platform Zepto said in its updated draft red herring prospectus (DRHP) on Monday that the Enforcement Directorate (ED) had sent summons to its founders Adit Palicha and Kaivalya Vohra under the Foreign Exchange Management Act (FEMA). In its updated DRHP filed with SEBI for its initial public offering (IPO) of $ 1 billion or Rs 9,500 crore, Zepto said that Palicha and Vohra were asked to submit certain documents related to foreign investment, audited balance sheet for the financial year 2020-21, shareholding pattern, loan and guarantee information, income tax returns and bank accounts along with other information.
What information did the company give in DRHP
Complying with the summons, Vohra appeared before the ED on April 17 and April 22. Palicha appeared before the authority on April 20 and May 15 this year. Zepto said that as of the date of this Updated Draft Red Herring Prospectus-I, it has provided the relevant information and documents requested by the ED under subpoena, as well as additional information requested following discussions with the ED, including our holding structure, scheme and additional information related to our business such as business agreements and invoices. Quick Commerce Company said that it has not yet received any further information from ED. He assured that there will be no inquiry in future or this inquiry will not turn into investigation, legal proceedings or any possible penalty.
zepto ipo
According to the updated prospectus, Zepto’s IPO will see issuance of new shares worth Rs 8,010 crore and about 11.35 crore shares for sale (OFS) by existing shareholders. This five-year-old company had secretly filed its IPO papers with market regulator SEBI in December 2025 and received approval from the regulator in May this year. People with knowledge of the matter said in the ET report that Zepto is planning to be listed in the stock market in July. With this, the company will become the third quick commerce player on Dalal Street along with Blinkit’s parent company Eternal and Instamart’s parent company Swiggy.
Zepto’s earnings
According to its updated DRHP, Zepto reported a 75 per cent year-on-year (YoY) growth in its consolidated revenue in Q4FY26 to Rs 7,498 crore in Q4FY26. The filing revealed that the Bengaluru-based company also reduced its net loss during the January-March quarter. It declined to Rs 1,539 crore from Rs 1,832 crore a year ago. Zepto processed 210 million orders during the quarter, or more than 2 million orders every day. At the end of March 2026, the company had 1,139 dark stores, whereas their number was 1,029 a year ago. The number of daily orders per store increased to 2,140 from 1,425 in the same period last year, which reflects higher throughput in its network.
