Zepto is bringing IPO
Zepto ipo: Zepto, a fast-emerging company in the world of quick-commerce, is now ready to take its business to the next level. There is news that the company is preparing to enter the stock market and the initial documents for it can be submitted next week itself. According to a news from Moneycontrol, Zepto is planning to launch an IPO of about $ 500 million (about Rs 4500 crore). The interesting thing is that the company can submit its draft prospectus through the ‘confidential route’. This means that the financial information of the company and the specifics of the IPO will not be made public immediately, but will be revealed only as the process progresses.
Zepto has prepared an army of veterans
Zepto has prepared an army of veterans to handle this entire process. It is being told that the company is working in collaboration with big financial institutions like Axis Bank, Motilal Oswal, Morgan Stanley, HSBC and Goldman Sachs. However, the size and timing of the IPO is still under discussion and may change.
$7 billion valuation
This IPO New shares will be issued (Fresh Issue) and also old investors can exit or earn profits by selling some of their shares (Secondary Share Sales). The company will use the proceeds from the IPO to make its network more dense.
In October itself, Zepto had raised a huge funding of $ 450 million, after which the valuation of the company was estimated at $ 7 billion. The company aims to build new warehouses and strengthen its delivery fleet to meet the growing demand.
Direct competition with Amazon and Swiggy-Zomato
India’s quick-commerce sector is currently a Kurukshetra. On one side there is Zepto, on the other side Swiggy, Zomato-owned Blinkit and Tata Group’s BigBasket are already in the field. Not only this, the Indian unit of the world’s largest e-commerce company Amazon is also trying to make its place in this race.
Also read- Keep money ready! Big earning opportunity is coming this week, 4 new IPOs are opening