Quick commerce major Zepto is urging existing investors to offload stakes worth $250 Mn to boost domestic shareholding before its upcoming IPO.
The private equity arms of Motilal Oswal Financial Services and Edelweiss Financial Services are in talks to buy shares in a secondary share sale.
Zepto plans to undertake the secondary deals at a valuation of just over $5 Bn, aiming to increase Indian investors' shareholding to nearly 50% from the current 33%.
The move aligns with Zepto's efforts to go public, following its shift back to India, discussions with merchant bankers for a potential $800 Mn to $1 Bn IPO, and transformation to a marketplace model.