MUMBAI: Zepto on Saturday said that it will raise funds through a pre-IPO financing amid tepid response from investors to its public listing.Zepto did not share the specifics of the transaction but said that the move will strengthen its balance sheet. It is looking to raise around Rs 1,000 crore through the round at a valuation of $4-4.5 billion, sharply lower than its last valuation of $7 billion, TOI had reported.On Friday, co-founder & CEO Aadit Palicha had told employees that the company will defer its IPO by two to three quarters. The startup which was initially eyeing a listing around July has stalled the process after domestic investors valued it at $3-3.5 billion.
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Vikrant Kharwar is the Founder and Editor of News Us Media. He writes about trending news, sports, entertainment, technology, and viral stories. His goal is to make news simple, informative, and easy to understand for readers across the United States and around the world.
