Zepto changes parent company name ahead of IPO: Kiranakart Technologies to Zepto Private Limited

Instant grocery delivery app Zepto has changed the name of its parent company ahead of its IPO launch. According to a Moneycontrol report, the official name of the company is now ‘Zepto Private Limited’, which was earlier ‘Kiranakart Technologies Private Limited’.

The company has received approval from the Registrar of Companies (ROC) of Mumbai to change the name. The move is to further strengthen brand identity, making the name easier to remember among investors and customers. According to reports, the company may launch an IPO later this year or early 2026.

Zepto has raised a total of more than $1.35 billion (Rs 11,558 crore) in the last few months. The company raised about Rs 5,700 crore in June 2024 and about Rs 2,900 crore in August 2024.

The company plans to raise another Rs 2,500 crore

Apart from this, the company has also raised about Rs 3,000 crore from big investors like Motilal Oswal and Ranjan Pai. Now the company is planning to raise about Rs 2,500 crore more, so that more and more domestic investors can be added before the IPO.

Zepto is currently competing with big companies like Zomato’s Blinkit, Swiggy Instamart, Flipkart Minutes and Tata BigBasket. The company’s gross merchandise value (GMV) is now around $4 billion (Rs 34,251 crore) and it has registered a growth of 300% annually.

According to experts, the quick commerce industry can reach around $30 billion (about Rs 2.56 lakh crore) in the coming years, making this market very competitive.

The company got unicorn status in 2023

In August 2023, the company raised funds of $235 million (₹1,970 crore), then the company got unicorn status with a valuation of $1.4 billion (₹11,741 crore).

The company’s target was to increase the number of its dark stores from the current 350 to over 700 by March 2025. Zepto, one of India’s fastest growing consumer internet companies, was founded in 2021 by Adit Palicha and Kaivalya Vohra.