Quick commerce company Zepto on Monday filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for a $1 billion (Rs 9,500 crore) initial public offering, moving closer to one of the most anticipated new-age listings of the year.

The IPO will comprise a fresh issue of shares worth Rs 8,010 crore and an offer-for-sale (OFS) of 113 million shares by existing shareholders, according to the updated prospectus. The five-year-old company had filed its IPO papers confidentially with Sebi in December 2025 and received the regulator’s approval in May.

According to people aware of the matter, Zepto is targeting a July listing. That would make it the third quick commerce player in the public market, alongside Blinkit parent Eternal and Instamart parent Swiggy. The IPO will also make Zepto the first standalone quick commerce company to list on Indian stock exchanges.

Through the OFS component, early investor Nexus Venture Partners, US-based Contrary Capital and Kaiser Permanente, as well as Dubai-based Razor Capital, plan to sell shares in the company.

Zepto was last valued at $7 billion in October 2025, when it raised $450 million from investors including CalPERS, General Catalyst, Goodwater Capital and Lightspeed.

The company plans to use proceeds from the fresh issue to expand its dark store network across existing and new geographies, as well as fund lease rentals for existing facilities. As of March 31, Zepto operated 1,139 dark stores. It also intends to invest in technology and cloud infrastructure, besides funding marketing and business promotion expenses.