Episode Details

Zepto nearly doubled its revenue in a year, processes more orders than Swiggy Instamart, and has raised over 2.5 billion dollars from private investors. 

But when it filed to go public, India's largest mutual funds said they'd value it at less than half of what private investors had in it's last fundraise.

The IPO is now delayed by two quarters. The cash reserves are falling. And six players are competing in a quick commerce market that analysts say can only sustain a few.

Zepto's growth story has always worked in its favour but the public market is asking different questions.

Read Suprita's stories here:

• Zepto wants Rs 8,100 crore—and investors to trust the numbers it won’t disclose
• Zepto to recruits from rivals: We give you ‘generational wealth’, you give us long hours

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