Stake sale · Commerce & Consumer Brands

Zepto founders and Motilal Oswal buy $100M shares in secondary sale

What they do

Motilal Oswal and Raamdeo Agrawal collectively bought $100M Zepto shares in a secondary transaction

Each founder invested $50M personally, while sellers included foreign investors like Nexus Venture Partners and Rocket Internet

The deal raises domestic ownership above 35%, aligning with Zepto's goal to reach 50% before a planned IPO in 2025-2026

Motilal Oswal and Raamdeo Agrawal collectively bought $100M worth of Zepto shares in a secondary transaction.
Each Zepto founder, Aadit Palicha and Kaivalya Vohra, personally invested $50M (₹425Cr each) in the same deal.
The sellers were a consortium of foreign investors including Nexus Venture Partners, Lachy Groom, Rocket Internet, and others.
No foreign investor sold all of their stake; each sold about 15% of their holdings proportionally.
Zepto has secured $350M total commitments so far in this broader secondary share sale.
A further $250M secondary round is being arranged, with MOFSL, Edelweiss, and Hero FinCorp likely to participate.
The secondary sale is part of a plan to increase domestic ownership to over 50% ahead of an IPO.

Zepto is preparing for an IPO planned in late 2025 or early 2026.
The company shifted its domicile from Singapore to India in January 2025.
Increasing domestic ownership to 50%+ is a key IPO requirement and strategic move.
Eternal (parent of Blinkit) already became an Indian owned and controlled company (IOCC), while Swiggy (Instamart) has not yet aimed for it.

Zepto delivers groceries and household essentials in 10 minutes.
It operates from a network of dark stores (small warehouses located near customers) across multiple Indian cities.
As of April 2025, Zepto was nearing an annualised GOV (gross order value) of $4B, up from $1B a year earlier.
Daily orders are around 1.45–1.55 million, similar to Blinkit (1.65–1.75M) and ahead of Instamart (1.05–1.15M).
The company raised about $1.35B in 2024 alone to fund expansion.
It makes money through commissions from sellers, delivery fees, and advertising.

Zepto plans to increase domestic ownership to over 50% ahead of its IPO.
An IPO is planned for late 2025 or early 2026.
The additional $250M secondary round is expected to close after due diligence in June.
Funds will be used to expand the dark store footprint and gain market share.

Product: A rapid-delivery app for groceries and everyday essentials.
Customers: Consumers ordering groceries and essentials online.
How it makes money: It earns from product margins, delivery fees, and order-value thresholds across its quick-commerce network.
What sets it apart: It was built as a quick-commerce native company from day one.
Operations: Operates dark-store based 10-minute delivery across multiple Indian cities.