Zepto IPO

Zepto, the Indian quick commerce startup, was founded in July 2021 by Stanford students Aadit Palicha and Kaivalya Vohra. The two dropped out of Stanford to set up India’s fastest-growing e-grocery company, which by August 2024 was valued at over $5 billion. The company, which pioneered the 10-minute home delivery of daily essentials, has a presence in 10 major cities in India. It has a 1,000+ staff strength and delivers 5,000+ products, including fresh fruits and vegetables, daily cooking essentials, dairy, health and hygiene products, etc., to Indian homes – all within 10 minutes. It has been able to achieve this innovative feat with the help of strong tech capabilities and a network of highly optimised delivery centres. The company which Palicha and Vohra originally founded was named KiranaKart, which partnered with local kirana stores to deliver groceries to homes. The model did not gain enough traction. In 2021, the business was reformatted to the 10-minute delivery specialist Zepto. In the run-up to the company’s initial public offering (IPO), it undertook a reverse flip from Singapore to India. This move of changing the domicile of Zepto’s parent to India Zepto has marked a milestone with the completion of its reverse flip from Singapore to India ahead of its proposed IPO. The move of bringing the domicile of Zepto's parent to India assumes aims to increase the shareholding of domestic investors in the quick commerce company.;