Stake sale · Commerce & Consumer Brands

Elcid Investments invests ₹7.5 crore in Zepto at $5.9 billion valuation

By Startup Enthusiast · 29 July 2025

What they do

Zepto is a 10-minute food delivery service based in Mumbai

Elcid Investments invested ₹7.5 crore in Zepto, valuing the company at $5.9 billion

The investment is part of a series of secondary sales to increase Indian ownership before the company's planned IPO

Elcid Investments invested ₹7.5 crore in Zepto, acquiring a 0.0146% stake in the company.
The investment values Zepto at ₹51,369 crore (around $5.9 billion).
Elcid Investments will hold a total of 0.039% share in Zepto after this transaction.
This is the second investment by Elcid Investments in Zepto, with a previous investment of ₹17.5 crore in November 2024.
Zepto is in the process of closing a $250 million secondary deal, in which shares are being sold by Motilal Oswal Financial Services.
The secondary sale aims to increase Indian ownership and clean up the company’s cap table ahead of its proposed public listing.
Zepto’s founders, Aadit Palicha and Kaivalya Vohra, and the company’s employee stock ownership plan (Esop) pool together currently hold around 28% share.
The company aims to add another 8-10% of Indian shareholding through these transactions before filing for the initial public offering (IPO).

The secondary sale is designed to increase Indian ownership and clean up the company’s cap table ahead of its proposed public listing.
Zepto’s founders and the company’s employee stock ownership plan (Esop) pool together currently hold around 28% share.
The company aims to add another 8-10% of Indian shareholding through these transactions before filing for the initial public offering (IPO).

Zepto is a 10-minute food delivery service based in Mumbai.
The company is working on controlling its cash burn and has clocked ₹11,109 crore in turnover in fiscal 2025.
Zepto’s net loss had come down marginally to ₹1,249 crore in FY24 from ₹1,272 crore in the previous year.
The company has recently broadened its portfolio beyond groceries and prepared foods, launching Zepto Pharmacy in select areas of Mumbai, Bengaluru, Delhi NCR, and Hyderabad.
Zepto is facing increased competition from the likes of Blinkit’s Bistro and Swiggy’s Snacc, which are expanding across major cities.

Zepto is working to strengthen its domestic ownership base ahead of the public listing.
The company has deferred its initial public offering (IPO) plans to next year.

Elcid Investments (investor) — A Mumbai-based non-banking financial company (NBFC).

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.