Sebi approves over $1 billion Zepto IPO; 5 other companies also get nod

India’s IPO pipeline has got a fresh boost, with market regulator Sebi clearing a clutch of public issues led by quick commerce player Zepto, setting the stage for one of the most closely watched new-age listings of 2026.The Aadit Palicha-led company, which recently converted itself into a public company from Zepto Private Limited to Zepto Limited, is preparing for a public market debut that could raise around $1.3 billion, or roughly Rs 11,000-12,000 crore, according to earlier ET reports.

If the issue goes through as planned, Zepto could become the youngest venture-backed Indian startup to hit the public markets, just four years after inception, at a time when investor appetite for consumer internet and platform businesses has returned after successful listings by companies such as Swiggy.

Zepto’s proposed fundraising is expected to include a sizeable fresh issue of around Rs 11,000 crore, along with an offer-for-sale by early investors, according to earlier reports.

The IPO comes at a critical time for India’s quick commerce battle, where Zepto is taking on listed rivals Eternal-owned Blinkit and Swiggy Instamart, besides newer entrants such as Flipkart Minutes and Amazon Now.The listing will also significantly strengthen Zepto’s war chest. As of late last year, the company had around Rs 7,000 crore in cash, compared with roughly Rs 17,000-18,000 crore each with listed rivals Eternal and Swiggy.Zepto had raised $450 million in October last year at a valuation of $7 billion, with the round including both primary and secondary transactions. Following that fundraise, the company sharply stepped up customer acquisition efforts, increasing discounts and removing platform fees in several markets as competition intensified.

The Bengaluru-based company had earlier shifted its domicile back to India from Singapore, a move increasingly seen among venture-backed startups preparing for domestic listings.

Investment bankers working on the issue include Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities and Motilal Oswal, according to earlier reports.

The proposed listing is expected in the July-September quarter of 2026, and could emerge as one of the biggest internet IPOs after Swiggy.

Zepto’s public market debut also comes amid a broader revival in India’s startup listing cycle. After a strong IPO market in 2025, several consumer internet and technology companies including PhonePe, Flipkart, Shadowfax, Shiprocket and Curefoods are also evaluating listings.

Apart from Zepto, Sebi has also cleared IPOs of Dhoot Transmission, Horizon Industrial Parks, Surgiwear, Crystal Crop Protection, and Hotel Polo Tower, adding further depth to the primary market pipeline.

Among them, Crystal Crop Protection, one of India’s larger crop solutions companies, and Horizon Industrial Parks, backed by institutional real estate capital, are expected to draw strong institutional attention.