Zepto Mega IPO Likely Soon: Quick-Commerce Startup Set to File Confidential DRHP with SEBI on 26 December?

Bengaluru-based quick-commerce startup Zepto is reportedly preparing to take its first formal steps toward launching an initial public offering (IPO) soon. According to a report by Moneycontrol.com, the company is likely to file a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) today.

Zepto IPO Soon: Likely to File Confidential DRHP with SEBI

Goodreturns has reached out to Zepto for confirmation but has not yet received a response.

The Moneycontrol report adds that Zepto may inform its stakeholders about the filing on December 26, 2025. If the filing proceeds, it would indicate that the startup has largely completed its internal preparations, including financial disclosures, compliance checks, and regulatory approvals.

What Zepto's Secret SEBI Filing Means for Its Upcoming IPO

The confidential DRHP route allows companies to submit draft IPO papers to SEBI without making them public immediately. This process helps companies fine-tune financial reporting, disclosures, and regulatory compliance before going live with a public announcement. Filing a confidential DRHP is often seen as a signal that a company is close to being IPO-ready.

Know About Zepto

Founded in 2020, Zepto would become one of the youngest Indian unicorns to enter the public markets if it lists in 2026, just six years after inception. For comparison, Honasa Consumer, which operates Mamaearth, went public approximately seven years after being founded.

Media reports suggest that Zepto has already appointed investment bankers to guide its IPO plans. While the final size of the IPO remains undecided, it is expected to raise around $500 million. Zepto was last valued at approximately $7 billion during a private funding round earlier this year.

The move towards an IPO comes at a time when investors are scrutinising consumer internet businesses more closely. Analysts note that scale, cash burn, and the path to profitability are now under sharper focus, reflecting heightened expectations from public-market investors.

Once listed, Zepto would join a competitive public-market environment that already includes rivals such as Eternal, which operates Blinkit, and Swiggy, which runs Instamart. As of December 25, 2025, Eternal's market capitalization stood at around $30 billion, while Swiggy's was close to $12 billion. Zepto's IPO would therefore add another high-profile player to the Indian quick-commerce segment, offering investors exposure to the fast-growing but intensely competitive online grocery and instant-delivery market.

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