Brands
Zepto heads for IPO amid quick-commerce boom
BENGALURU: Zepto has joined India’s IPO queue, filing confidential papers for a stock market listing as the country’s quick-commerce arms race shifts up a gear.
The four-year-old startup has submitted draft documents under the confidential route, allowing it to keep details under wraps until closer to launch, according to regulatory filings. The move positions Zepto among the most closely watched public market candidates of 2025, a year expected to see record fundraising in Indian equities.
Founded in 2021, Zepto has ridden India’s appetite for instant gratification, promising deliveries in 10 minutes and expanding aggressively across major cities. The company now offers more than 45,000 products, spanning groceries to everyday essentials, and is locked in a costly fight for urban consumers with rivals such as Blinkit, owned by Eternal, and Swiggy’s Instamart.
The sector has become one of India’s most capital-intensive consumer battles, with players pouring billions into dark stores, logistics and last-mile delivery as speed becomes the ultimate differentiator.
Zepto’s IPO plans follow a $450 million funding round in October that valued the company at $7 billion, underlining investor appetite even as competition squeezes margins.
As India’s markets brace for a bumper year of listings, Zepto’s filing sends a clear signal. The quick-commerce land grab is far from over, and the next phase of the fight is heading straight for the stock exchange.
Brands
Kotak Mahindra Bank appoints Ramesh Iyer to board
Veteran financier replaces Ashok Gulati, who retires in March
MUMBAI: Kotak Mahindra Bank has announced a change to its board of directors, with independent director Ashok Gulati set to retire at the end of his term on 5 March.
The company said it has appointed Ramesh Ganesh Iyer as an additional and independent director for a four-year term, effective 17 February, subject to shareholder approval.
Iyer brings more than four decades of experience in financial services. He spent much of his career at Mahindra & Mahindra Financial Services, where he served as vice chairman and managing director before taking on the role of president for the financial services sector and member of the group executive board at Mahindra & Mahindra. He retired from the group in April 2024.
During his tenure, Iyer was instrumental in expanding rural and inclusive finance initiatives, scaling the company’s assets and customer base. He also led the creation of subsidiaries in rural housing finance, insurance broking and asset management, and oversaw international joint ventures.
Iyer holds a commerce degree and a doctorate of letters, and currently serves on the boards of several listed and unlisted companies.
The board meeting approving the changes was held in Mumbai on February 17 between 6.30 pm and 6.50 pm.
