MapmyIndia picks strategic stake in Zepto at $5.8 bn pre-money value

Home-grown digital navigation firm MapmyInida has bought strategic stakes in quick commerce firm Zepto at a pre-money valuation of $5.8 billion, a top official of the map services company said.

Pre-money valuation refers to an estimated valuation of an enterprise before receiving funds from investors.

According to a regulatory filing by CE Info Systems, owner of MapmyIndia, the company intends to invest approximately ₹25 crore for subscribing to 75,18,797 compulsorily convertible preference shares (CCPS) on fully diluted basis having face value of ₹5 each at issue price of ₹33.25 per CCPS.

"We acquired shares in a secondary sale from a foreign investor of Zepto at a pre-money valuation of $ 5.8 billion. It is a strategic stake, and as per the agreement, Zepto will use our maps for navigation," MapmyIndia Chairman and Managing Director Rakesh Verma told PTI.

 

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With this investment, MapmyIndia will hold 0.0490 per cent stake in Zepto's share capital.

According to the filing, Zepto has recorded over 100 per cent growth in revenue to ₹4,454.52 crore in FY24 from ₹2,024.4 crore in FY23.