Zepto puts IPO on hold amid cash burn concerns, plans to raise Rs 1,000 crore instead: Report

Zepto has put its IPO on hold and is raising over Rs 1,000 crore through a pre-IPO placement.

Existing investors Glade Brook, General Catalyst, Goodwater Capital, and Nexus Venture Partners may invest in the pre-IPO round.

Zepto's IPO size was trimmed to between Rs 5,000 and 6,000 crore from an initial plan of Rs 8,000 crore.

Mutual funds pricing the round value Zepto between $2.5 billion and $3 billion, below its last valuation of $7 billion.

Zepto's quarterly cash burn was reduced from over Rs 900 crore to around Rs 700 crore, extending its runway.