India’s Zepto files confidentially for up to $1.3bln IPO: IFR

Indian online grocery delivery company Zepto has filed confidentially for an up to US$1.3bn IPO, people with knowledge of the transaction said.

Primary shares totalling US$1.1bn and US$200m of secondary shares will be on offer. The vendor names have not been disclosed.

Axis Capital, Goldman Sachs, HSBC, IIFL Capital, JM Financial, Motilal Oswal and Morgan Stanley are the banks on the transaction. 

In October, Zepto raised US$450m of capital from a group of investors, valuing the company at US$7bn. 

CEO Aadit Palicha is the co-founder of the company, whose other shareholders include StepStone Group, Lightspeed Venture Partners, Y Combinator, Glade Brook Capital and California Public Employees’ Retirement System.

Source: IFR