Indian Ownership in Zepto Set to Cross 50% with Major Secondary Transactions
New Delhi, May 12 — In a strategic move aimed at boosting domestic ownership in Zepto ahead of its planned initial public offering (IPO), Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services, have invested USD 100 million (approximately Rs 848 crore) in the quick commerce company through a secondary share purchase.Sources familiar with the development said the duo acquired Zepto shares worth USD 50 million each from foreign investors through their proprietary investment books. The transaction, executed at Zepto’s August 2024 valuation of USD 5 billion, marks a key milestone in the startup's efforts to shift more equity into Indian hands.
Zepto Targets 50%+ Indian Shareholding Pre-IPO
Currently, Indian ownership in Zepto stands at just over 42 percent. With several other transactions underway, the company aims to surpass the 50 percent domestic shareholding threshold, a target internally set to strengthen its IPO positioning.USD 250 Million Round in Pipeline
Beyond the initial USD 100 million deal, Motilal Oswal Financial Services is also spearheading a larger USD 250 million secondary round through its client network. Edelweiss and Hero FinCorp are among the other investors participating in this expanded transaction, bringing the total deal size to USD 350 million.According to sources, binding documents for the USD 250 million round have already been signed. The formal announcement is expected in June, pending completion of due diligence.
Zepto has yet to issue an official statement in response to queries regarding the transactions.