Zepto, Quick-commerce platform, has received approval from the National Company Law Tribunal (NCLT) for its reverse merger, allowing it to transfer its domicile from Singapore to India. The Mumbai-based company sought to amalgamate Kiranakart with Kiranakart Technologies in India.  

According to the NCLT order dated January 9, 2025, the company’s Board of Directors believes the merger is in the best interests of stakeholders, including shareholders, employees, and creditors. This strategic move positions Zepto closer to its much-anticipated initial public offering (IPO) in India, expected later this year.

Reports indicate the company plans to raise $400 to $500 million through the IPO, with Goldman Sachs, Morgan Stanley, and Axis Capital as its banking partners.  

In a recent funding round led by Motilal Oswal Private Wealth, Zepto raised $350 million, boosting its valuation to $5 billion. Since its inception, the company has raised a total of $1.85 billion, including $1.35 billion in 2024 alone.  

Financially, Zepto demonstrated strong growth for the fiscal year ending March 2024, with revenue from operations increasing 2.2 times to 4,454 crore compared to 2,026 crore in FY23.

Additionally, the company managed to reduce its losses by 2% to 1,248.6 crore during the same period.  

The reverse merger and domicile shift to India consolidate Zepto’s operations as it gears up for its IPO within the next 18 to 24 months. The move has also been approved by Singapore authorities, further streamlining its structure for future growth and public listing.