Zepto to raise funds amid delayed listing
Zepto announced it will raise funds through a pre-IPO financing amid tepid investor response to its public listing.
The company is looking to raise around Rs 1,000 crore at a valuation of $4-4.5 billion, down from its last valuation of $7 billion.
CEO Aadit Palicha told employees on Friday that the IPO will be deferred by two to three quarters.
The IPO was initially expected around July but was stalled after domestic investors valued the company at $3-3.5 billion.
Zepto stated the move will strengthen its balance sheet, but did not share specifics of the transaction.
Story angle
Center
Near the middle: closer to straight reporting, less party-line spin.
About how the story is framed, not whether the facts are true.
Times of India
Center-right
Mixed factuality
Who owns this?
Times Group
Bennett, Coleman & Co. (Sahu Jain family)
India's largest newspaper group by circulation.
Wikipedia: Sahu Jain family