AgenciesHomegrown digital mapping services company MapmyIndia will invest Rs 25 crore in quick commerce startup Zepto for a 0.049% stake, according to regulatory filings made with the exchanges.
MapmyIndia said in the filing that its board has approved the proposal to invest in Zepto.
Last month, Mumbai-based non-banking finance company Elcid Investments had picked a small stake in Zepto for Rs 7.5 crore.
Investments by both MapmyIndia and Elcid Investments value Zepto at Rs 51,000 crore (around $5.9 billion)
These share purchases are being done via secondary transactions.
Zepto has been in the process of closing a $250-million secondary deal, in which shares are being sold by private equity firm Motilal Oswal Financial Services. This secondary sale is designed to further increase Indian ownership and clean up the company’s cap table ahead of its proposed public listing.
Zepto’s founders Aadit Palicha, Kaivalya Vohra and the company’s employee stock ownership (Esop) pool together currently hold around 28% share, according to people in the know. The company aims to add another 8-10% of Indian shareholding through these transactions before the IPO paperwork is filed.
Palicha and Vohra are also looking to close a structured debt transaction through which they are to pick up Rs 1,500 crore worth of stake in the company financed via debt from Edelweiss Alternative Asset, domestic family offices and smaller credit funds.
MapmyIndia said in the filing that its board has approved the proposal to invest in Zepto.
Last month, Mumbai-based non-banking finance company Elcid Investments had picked a small stake in Zepto for Rs 7.5 crore.
Investments by both MapmyIndia and Elcid Investments value Zepto at Rs 51,000 crore (around $5.9 billion)
These share purchases are being done via secondary transactions.
Zepto has been in the process of closing a $250-million secondary deal, in which shares are being sold by private equity firm Motilal Oswal Financial Services. This secondary sale is designed to further increase Indian ownership and clean up the company’s cap table ahead of its proposed public listing.
Zepto’s founders Aadit Palicha, Kaivalya Vohra and the company’s employee stock ownership (Esop) pool together currently hold around 28% share, according to people in the know. The company aims to add another 8-10% of Indian shareholding through these transactions before the IPO paperwork is filed.
Palicha and Vohra are also looking to close a structured debt transaction through which they are to pick up Rs 1,500 crore worth of stake in the company financed via debt from Edelweiss Alternative Asset, domestic family offices and smaller credit funds.
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