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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.
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Maharashtra revokes Ola, Uber, Rapido bike taxi licences
Temporary e-bike taxi permits cancelled as firms fail to meet state rules
MUMBAI: Maharashtra’s roads are set to see fewer zipping two-wheelers after the state government pulled the plug on provisional licences granted to bike taxi giants Ola, Uber and Rapido. Transport Minister Pratap Sarnaik announced in the Legislative Council on Monday that temporary permissions would be revoked.
“These companies were given permission for just a month and were required to submit certain documents. Since they have not complied, their temporary licences are cancelled. This is to ensure illegal bikes do not operate on our roads,” Sarnaik said.
The move follows the Maharashtra E Bike Taxi Rules 2024, designed to generate employment for local youth and offer commuters a cheaper, greener ride option. The rules, approved in August 2024, allow electric bike taxis in cities with over one lakh residents.
Under the policy, only electric vehicles can ply as taxis, and operators had 30 days to fulfil licensing and compliance requirements. Yet, officials claim many continued operations without meeting these conditions. Sarnaik added that a large number of bike taxis currently running in Mumbai and the wider Mumbai Metropolitan Region are illegal.
In a firm enforcement twist, the government has instructed authorities to focus on vehicle owners rather than riders when registering cases. Safety concerns, particularly for women passengers, and accident complaints have also been flagged by the transport department.
Since April 2024, Regional Transport Offices have taken action against 130 non-compliant bike taxis, collecting fines exceeding Rs 33 lakh. Authorities say further measures will follow to ensure services adhere to regulations before returning to city streets.
Maharashtra’s bike taxi saga has been a rollercoaster. Initially banned in January 2023 due to concerns over private vehicles ferrying passengers, the sector was later formalised through an electric bike framework in 2024. Provisional licences were granted in 2025, but the government now warns that any bike taxi operating on city roads without proper permits will be considered illegal.
Adding to the transport shake-up, the government has also halted the issuance of new auto rickshaw permits from March 9 to ease urban traffic pressures and safeguard livelihoods of existing drivers. A fresh standard operating procedure for future permits is set to go before the state cabinet soon.
Maharashtra commuters may have to find alternative rides as the state reins in its two-wheeled taxi revolution, leaving app-based bikers in a legal limbo.
