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Zepto founders Aadit Palicha and Kaivalya Vohra are in advanced talks with Edelweiss Alternative Asset, domestic family offices and smaller credit funds for a structured debt of around Rs 1,500 crore, The Economic Times has reported.

The move is aimed at buying shares from the existing foreign investors to help the quick-commerce platform consolidate its domestic ownership ahead of its initial public offering (IPO), the report cited sources as saying.

Edelweiss has submitted a binding bid for the loan that carries a minimum interest rate of 16 percent, with an equity-linked upside that could take the total returns up to 18 percent, the report said. The deal will value Zepto at around $5 billion.

Moneycontrol couldn’t verify the report independently.

The transaction will reportedly have a tenure of three years and will likely be closed by July. It will take the company's domestic shareholding to over 30 percent ahead of its IPO, the report said.

Earlier this year, Moneycontrol reported that Zepto engaged with several top mutual fund houses in the country to facilitate share sales worth $300 million (around Rs 2,600 crore) ahead of a public market debut.

During the course of his meetings, CEO Palicha told mutual fund houses that Zepto will breakeven on an earnings before interest, taxes, depreciation and amortisation (EBITDA) basis by Q4FY26.

In November 2024, Zepto secured $350 million from Motilal Oswal, Ranjan Pai’s Claypond Capital and other Indian investors as it brought in more domestic shareholders and reduced reliance on foreign capital.

Zepto, which recently flipped its base back to India from Singapore, has been on a fundraising spree. It has already raised $1.35 billion. The Bengaluru-based company raised $665 million in June 2024 from Glade Brook Capital, The StepStone Group, Nexus Venture Partners and others and then went on to close a $340 million round in August 2024 from General Catalyst and others.

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