Quick commerce platform Zepto has filed confidential draft papers with the Securities and Exchange Board of India for a $1.3-billion (Rs 11,000-12,000 crore) initial public offering (IPO), said people with knowledge of the development.

The Aadit Palicha-led company is looking to raise about Rs 11,000 crore in fresh capital, and the rest from early investors who are offering shares for sale, ET reported on December 25.

Making a confidential filing with the markets regulator, a route also taken by the likes of Swiggy, Meesho and Groww, will allow Zepto to revise its issue size before final launch. Zepto did not respond to ET’s queries till press time.

The four-year-old company, which will be the youngest new-age venture capital-backed company to go public, got the green light from its shareholders for its IPO at an extraordinary general meeting on December 23. Earlier, startups such as Ola Electric and Honasa Consumer went public six to seven years after incorporation.

After a strong listings season in 2025, several other new-age companies, including PhonePe, Flipkart, Shadowfax, Shiprocket and Curefoods, have lined up to go public next year.

Morgan Stanley, Axis Capital, HSBC, Goldman Sachs, JM Financial, IIFL Securities and Motilal Oswal are bankers to Zepto’s issue. The quick commerce firm moved its base back to India from Singapore in January.

In October, Zepto closed a $450-million round in a mix of primary and secondary transactions, valuing the company at $7 billion.

Bengaluru-based Zepto competes with the likes of Swiggy and Zomato parent Eternal, both of which are listed. Zepto is eyeing its listing in July-September 2026.

In a filing with the Registrar of Companies earlier this week, Zepto reported revenue of Rs 9,669 crore for FY25, up 129% year-on-year. Its net loss nearly tripled to Rs 3,367 crore from Rs 1,214 crore. ET first reported on November 5 about Zepto’s plan to file draft IPO papers under the confidential route.