Zepto, the quick commerce firm, filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) on June 8, 2026, for an initial public offering (IPO) that includes a fresh issue of Rs 8,010 crore and an offer for sale by existing investors, according to medianama.com.
The filing reveals that the Enforcement Directorate (ED) summoned Zepto's co-founders Aadit Palicha and Kaivalya Vohra on April 8, 2026, under the Foreign Exchange Management Act, 1999 (FEMA). The summons requested details on foreign and overseas investments, audited balance sheets since FY 2020-21, shareholding patterns, loans, guarantees, immovable properties, income tax returns, and bank account details. Both founders complied, appearing before the ED on multiple dates in April and May and providing follow-up information on Zepto’s holding structure, corporate restructuring, and business agreements.
Zepto’s updated filing states that it is a foreign-owned and controlled company under the Consolidated Foreign Direct Investment (FDI) Policy and FEMA rules, which impose restrictions on certain business activities. The company noted that while it has received no further communication from the ED since responding, the matter could escalate into investigations, proceedings, or penalties. This disclosure comes amid Zepto’s efforts to raise significant capital through its IPO, highlighting regulatory scrutiny in the quick commerce sector.
The IPO filing was submitted to SEBI on June 8, 2026, marking a key step in Zepto’s fundraising plans. The Rs 8,010 crore fresh issue and offer for sale by existing investors position Zepto among the notable quick commerce firms seeking public market funding this year.