Zepto pauses IPO for pre-IPO raise

Zepto has put its IPO plans on hold and is working to raise more than Rs 1,000 crore ($105 million) from existing investors through a pre-IPO placement. The quick-commerce startup is expected to seek a $4-4.2 billion valuation after domestic mutual funds pushed for IPO terms closer to $2.5-3 billion, well below its $7 billion private valuation six months ago.

Source: Moneycontrol