Zepto’s updated draft draft red herring prospectus (DRHP) offers fresh insight into its standing in India’s quick commerce race, with analysts and investors expecting the startup’s upcoming fundraising to intensify competition in a market already locked in an expensive battle for growth. The five-year-old company filed the updated prospectus on Monday for its initial public offering, through which it plans to raise Rs 8,010 crore in fresh capital.
The latest disclosures show Zepto has overtaken Swiggy Instamart on order value and volumes, but continued to trail Eternal-owned Blinkit on scale and profitability. Zepto reported a net order value (NOV) of Rs 7,591 crore for January-March FY26, its DRHP shows. Blinkit reported Rs 14,386 crore and Instamart posted Rs 5,674 crore for the quarter, according to public filings of their parent companies.
Zepto is set to become the first standalone quick commerce company to list in India. Blinkit and Instamart operate within listed entities Eternal and Swiggy, respectively.
