Zepto to delay IPO by 2-3 qtrs, CEO tells staff
Zepto will delay its IPO by two to three quarters, CEO Aadit Palicha told employees.
The company received tepid investor response, with domestic investors valuing it at $3-3.5 billion versus its last valuation of $7 billion.
Zepto seeks Rs 1,000 crore in pre-IPO funding at a valuation of $4-4.5 billion.
The IPO was originally targeted for around July with an issue size of up to Rs 8,010 crore.
Zepto has listing approvals until November next year, so refiling will not be needed.
Story angle
Center-right
Mostly straight facts, with a light government- or market-friendly tilt.
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