ETtechMumbai-based non-banking financial company (NBFC) Elcid Investments is investing Rs 7.5 crore in quick commerce company Zepto, it said in a stock exchange filing.
In its regulatory filing on Tuesday, Elcid Investments said it will take a 0.0146% stake in Zepto for its investment—translating to a valuation of Rs 51,369 crore (or around $5.9 billion).
Following the transaction, Elcid Investments will hold a total of 0.039% share in Zepto. Last November, it had invested Rs 17.5 crore in the company through a secondary transaction.
Zepto has been in the process of closing a $250 million secondary deal, in which shares are being sold by private equity (PE) 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 and Kaivalya Vohra, and the company’s employee stock ownership plan (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 it files for the initial public offering (IPO).
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. This is to be financed via debt from Edelweiss Alternative Asset, domestic family offices and smaller credit funds.
The four-year-old startup, which is currently working on controlling its cash burn, clocked Rs 11,109 crore in turnover in fiscal 2025, up 150% from Rs 4,454 crore in FY24, according to Elcid Investments’ regulatory filing. The company's net loss had come down marginally to Rs 1,249 crore in FY24 from Rs 1,272 crore in the previous year, according to the company’s audited financial statements.
Also Read: Zepto Cafe scales down as orders drop and supply issues mount
ET had reported on July 16 that Zepto Café, the 10-minute food delivery service from the quick commerce firm, has scaled down operations as it faces challenges around sourcing products and a shortage of trained staff to run its kitchens. It comes at a time when the segment is facing increased competition from the likes of Blinkit’s Bistro and Swiggy’s Snacc, which are expanding across major cities.
After a year of rapid expansion of their dark store networks, quick commerce firms, including Zepto, Blinkit, and Instamart, have slowed down new store additions as losses in the industry have started piling up.
Also Read: Zepto founder on $5-bn valuation, IPO plans & how quick commerce is creating more jobs than Indian Railways
In its regulatory filing on Tuesday, Elcid Investments said it will take a 0.0146% stake in Zepto for its investment—translating to a valuation of Rs 51,369 crore (or around $5.9 billion).
Following the transaction, Elcid Investments will hold a total of 0.039% share in Zepto. Last November, it had invested Rs 17.5 crore in the company through a secondary transaction.
Zepto has been in the process of closing a $250 million secondary deal, in which shares are being sold by private equity (PE) 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 and Kaivalya Vohra, and the company’s employee stock ownership plan (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 it files for the initial public offering (IPO).
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. This is to be financed via debt from Edelweiss Alternative Asset, domestic family offices and smaller credit funds.
The four-year-old startup, which is currently working on controlling its cash burn, clocked Rs 11,109 crore in turnover in fiscal 2025, up 150% from Rs 4,454 crore in FY24, according to Elcid Investments’ regulatory filing. The company's net loss had come down marginally to Rs 1,249 crore in FY24 from Rs 1,272 crore in the previous year, according to the company’s audited financial statements.
Also Read: Zepto Cafe scales down as orders drop and supply issues mount
ET had reported on July 16 that Zepto Café, the 10-minute food delivery service from the quick commerce firm, has scaled down operations as it faces challenges around sourcing products and a shortage of trained staff to run its kitchens. It comes at a time when the segment is facing increased competition from the likes of Blinkit’s Bistro and Swiggy’s Snacc, which are expanding across major cities.
After a year of rapid expansion of their dark store networks, quick commerce firms, including Zepto, Blinkit, and Instamart, have slowed down new store additions as losses in the industry have started piling up.
Also Read: Zepto founder on $5-bn valuation, IPO plans & how quick commerce is creating more jobs than Indian Railways
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