Quick commerce platform Zepto is reportedly preparing to launch its much-awaited Rs 11,000-crore initial public offering (IPO) in July 2026. According to people familiar with the matter, the Bengaluru-based startup is targeting a stock market debut before July 31.

If the public issue moves ahead as planned, Zepto will join competitors Zomato and Swiggy, which are already listed on Indian stock exchanges.

The company recently received approval from the Securities and Exchange Board of India (Sebi) for its maiden public issue and is now expected to submit its Updated Draft Red Herring Prospectus (UDRHP). Zepto had earlier filed its IPO papers through the confidential route in December 2025.

Founded by Stanford University dropouts Aadit Palicha and Kaivalya Vohra, Zepto has built its growth strategy differently from many players in the quick commerce space. A recent report by brokerage Bernstein highlighted that the company has focused more on strengthening existing markets rather than rapidly expanding into newer locations.

According to the report, Zepto currently has the highest concentration of dark stores in the quick commerce category, operating nearly 21 stores per city. In comparison, several competitors operate around nine stores per city.

The report also noted that Zepto currently runs 1,255 dark stores across 61 cities, while rival Blinkit has 2,222 stores spread across 243 cities. Instead of aggressively entering more markets, Zepto appears to be prioritising stronger penetration within the cities where it already operates.

Bernstein further pointed out that Zepto maintains the highest store-to-pincode ratio in the segment, reflecting its strategy of building density in selected urban markets.

The company's network continues to remain heavily focused on metro cities, where factors such as faster delivery timelines, higher order frequency and stronger customer engagement can help improve operations over time.

According to the analysis, rather than pushing growth through large-scale expansion, Zepto appears to be focusing on building stronger usage patterns and operational efficiency within a smaller number of markets.

With IPO plans now moving forward, Zepto is preparing for a major milestone that could further strengthen its position in India's growing quick commerce market.