Zepto, the quick commerce startup, has received bids from Norges, the Norwegian sovereign wealth fund, and Motilal Oswal for its initial public offering (IPO). These two investors are likely to cover about 40-45% of Zepto's anchor book, according to sources aware of the matter.
The IPO process is still ongoing, and several other top mutual funds have also expressed interest in investing in Zepto. So far, Zepto, Norges, and Motilal Oswal have not responded to queries regarding the IPO.
Norges, through its Government Pension Fund Global (GPFG), is already an investor in companies like Eternal and Swiggy, which compete with Zepto in the quick commerce space. Zepto faces competition from Blinkit and Instamart, which are owned by these firms.
For Zepto, the fresh pre-money valuation is $4.3 billion, and the post-money valuation is approximately $5.1 billion. This is 27% lower than the $7 billion valuation Zepto achieved during its $450 million fundraising in October 2025.
The valuation correction is largely due to questions around Zepto's cash burn and profitability. Other new-age firms like Meesho have also seen similar valuation adjustments when moving from private to public markets.