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Quick commerce unicorn Zepto has filed preliminary papers with markets regulator Sebi to raise Rs 11,000 crore through its initial public offering (IPO) using a confidential route, people familiar with the development said on Saturday. The company is targeting a stock market listing sometime next year, a move that could make it one of the youngest startups to debut on Indian exchanges. If the listing goes through, Zepto will join its rivals Zomato and Swiggy, both of which are already listed on the exchanges. According to the people familiar with the development, Zepto has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges". Zepto has opted for the confidential pre-filing route, which allows the company to engage with the Securities and Exchange Board of India (Sebi) for initial feedback on its draft document without it being publicly
Home and furnishings company Wakefit Innovations Ltd is gearing up to launch its initial public offering (IPO) on December 8 to raise around Rs 1,400 crore. The company's maiden public offering is a combination of a fresh issue of equity shares aggregating up to Rs 377.1 crore and an offer-for-sale (OFS) of 4.67 crore shares by the selling shareholders, according to the red herring prospectus (RHP). As part of the OFS, the promoters -- Ankit Garg and Chaitanya Ramalingegowda and other selling shareholders -- Nitika Goel, Peak XV Partners Investments VI, Redwood Trust, Verlinvest S.A., SAI Global India Fund I LLP and Paramark KB Fund I -- will be offloading shares. Market sources said that the total issue size would be around Rs 1,400 crore. The IPO of the Bengaluru-based company will conclude on December 10, and anchor investors will be allocated shares on December 5, the RHP noted. Wakefit proposes to utilize the proceeds from the fresh issue, worth Rs 31 crore, for setting up 11