Zepto said to face sharply lower valuation for IPO

Zepto is facing a sharply lower pre-IPO valuation of about $4.5 billion from foreign investors and around $3-3.5 billion from domestic institutional investors, down significantly from its $7 billion valuation secured in October. The quick-commerce firm aims to raise up to $850 million through its IPO, with the fresh issue of about $831 million earmarked for expanding its dark-store network and strengthening tech infrastructure. The valuation reset reflects fading investor exuberance in the quick-commerce space, with listed rival Swiggy's shares down about 29% from their late 2024 listing price and Zepto's unlisted shares trading around 33% below their March level.