For the IPO process, Zept
Quick Commerce Major Zepto has changed the name of its parent company of Kiranakart Technologies Private Ltd to Zepto Private Ltd, according to Futy Tofler.
The company has also received an approach from the business registrar (ROC) for the change of name.
This comes at a time when the company prepares for its initial public offer (IPO). Recently, Zepto appointed Akhil Gupta, vice president or Bharti Enterprises, the parent company of Bharti Airtel, to its Board as an independent director. The Board includes the founders Aadit Palicha and Kaivalya Vohra, the founder of Avra Alide Avra, Anu Haran, and the co -founder and managing director of Nexus Venture Partners, Subir Subjan.
For the IPO process, Zept has also overturned its base to India from Singapore, and has bones in a fund collection spree. The company has raised up to $ 1.35 billion in a period of five months.
The company is looking to obtain more national shareholders ahead of the OPI. He has obtained $ 350 million from Motilal Oswal, Claypond Capital de Ranjan Pai and is in conversations to raise $ 300 million in a secondary round.
The gross value of merchandise of the company (GMV) is now close to $ 4 billion, an increase of 300 percent year -on -year. The fast trade space is warming as new players like Flipkart Minute enter the sector. Zepto competes with the Blinkit, Swiggy Instamart de Zomato, Tata Bigbasket and others in space.
Posted on April 16, 2025
