Zepto’s IPO Crawl

Last week, Zepto grabbed headlines again, but this time for reasons that could shape its future. First, it raised INR 400 Cr from Motilal Oswal, and second, it finally revised the app’s free delivery terms in line with rivals Blinkit and Swiggy Instamart.

To novice eyes, the two developments may seem fathoms apart — one being a routine fundraising, the other just an app tweak. But both are strategic — polishing the optics and strengthening fundamentals before the IPO. 

Motilal Oswal’s increase in stake boosts Indian institutional…