Zepto Rebrands Parent Company, Gears Up For IPO (Image: X/ zepto)
The foodtech and quick commerce unicorn Zepto has rebranded its parent company on Thursday from Kiranakart Technologies Private Limited to Zepto Private Limited as the Bengaluru-based startup gears up to list its shares on Indian stock exchanges.
This is widely seen as an effort to enhance brand visibility ahead of its highly anticipated initial public offering (IPO).
Zepto is expected to launch its IPO either later in 2025 or in early 2026. To lead its public offering, the company has reportedly roped in top global investment banks Goldman Sachs and Morgan Stanley.
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This development mirrors a similar move by Zepto’s rival, Swiggy, which changed its registered name from Bundl Technologies to Swiggy Private Limited nearly 10 months before filing its draft red herring prospectus (DRHP) with SEBI. After listing, Swiggy transitioned into a public company.
Earlier in January 2025, Zepto also relocated its headquarters from Singapore to India, moving its legal domicile to align with Indian IPO regulations.
Also, this month, Zepto appointed Akhil Gupta, Vice Chairman of Bharti Enterprises—the parent company of Bharti Airtel as an independent director to its board.
Gupta brings with him a wealth of IPO experience, having played a pivotal role in the successful listings of Bharti Airtel (2002), Bharti Infratel (2012), and Airtel Africa (2019).
To bolster its positioning ahead of the IPO, Zepto is reportedly in talks to raise $250 million through a secondary funding round.
The goal is said to increase Indian investor ownership to around 50%, up from the current 33%, in a bid to align more closely with domestic investor preferences and regulatory norms.
Since its inception, Zepto has raised a total of $1.95 billion across 10 funding rounds. The first round occurred on November 1, 2020, and the most recent, a Series G round, took place on November 21, 2024, where the company secured $350 million.
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This round was led by Motilal Oswal Private Wealth and saw participation from 13 investors. The upcoming IPO is expected to value Zepto at over $5 billion.
The company’s founders, Aadit Palicha and Kaivalya Vohra, currently hold about 20% of the company. The largest institutional stakeholder is Nexus Venture Partners, which owns 18.6%.
Other notable investors include the family offices of Mankind Pharma, Haldiram Snacks, and Cello, along with high-profile individuals like cricket legend Sachin Tendulkar and Bollywood actor Abhishek Bachchan.
(With inputs from agencies)
