Indian Investors Buy $100 Million Stake in Zepto as Startup Eyes IPO
New Delhi, May 13 — Quick-commerce startup Zepto just scored a $100 million investment from Motilal Oswal and Raamdeo Agrawal, the big names behind Motilal Oswal Financial Services. The deal is all about making the company a bit more “Indian” as it gears up for a domestic IPO.
What’s the Deal About?
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Investment Amount: $50 million each from Motilal Oswal and Raamdeo Agrawal.
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How It Happened? It’s a secondary share sale—existing investors like Nexus Venture Partners and Lachy Groom sold small portions of their shares.
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Who’s Selling? None of the global investors completely exited. They just sold tiny stakes to help the company boost its Indian shareholding.
A source close to the deal clarified, “No foreign investor completely exited the brand. They just chipped in with small portions to help increase the company’s Indian ownership.”
Why Zepto Wants More Indian Ownership
Zepto, founded in 2021, used to be based in Singapore. But it shifted to India—because if you’re planning an Indian IPO, local ownership is a big deal. Right now, Zepto’s Indian shareholding is over 35%, and the company wants to push it past 50%.
This $100 million is just part of a bigger $200 million secondary share sale plan. And more Indian investors are expected to join soon, which could bring the total to $350 million.
Who Else Might Join the Party?
Some big names like Edelweiss Financial Services and Hero Fincorp have shown interest in jumping in. So, expect even more domestic money backing the 10-minute delivery brand soon.
No New Shares, Just Switching Hands
This isn’t about Zepto creating new shares. It’s a secondary sale—meaning existing investors are selling part of their holdings to new buyers. So, the company gets more Indian shareholders without messing with its existing ownership structure.
Zepto’s 10-Minute Delivery Game
Zepto is all about that super-fast, 10-minute delivery model. Competing with heavyweights like Blinkit, Swiggy Instamart, and Dunzo, it’s already made a name for itself in India’s quick-commerce scene.
Backed by Y Combinator and Glade Brook Capital, the company’s valuation is holding steady at $5 billion.
For More: “We Almost Died” — Aadit Palicha Breaks Down Zepto’s 2023 Crisis