MUMBAI: Quick commerce startup Zepto has received key approvals from the Securities and Exchange Board for its $1-billion IPO plan while the Blackstone-backed Horizon Industrial Parks that’s into industrial and logistics infrastructure, has received the nod for a Rs 2,600-crore that will be an entirely fresh issue.
Zepto is looking to raise $800-1,000 million (Rs 7,600 crore to Rs 9,400 crore) from the issue and is likely to complete the issue over the next 60-90 days, an investment banking source told TNIE Friday.
Once complete, Zepto will be among the quickest to list. The startup was founded in 2020 and will become the only pure play quick commerce company to go public. Zepto competes with bigger rivals such as Blinkit, Instamart, Amazon Now, Flipkart Minutes, and Tata's BigBasket among others.
Zepto claims to currently deliver over 2.5 million orders daily.
Meanwhile, Horizon Industrial Parks, which is the country’s largest industrial and logistics infrastructure developer, owner and operator in terms of total network area, has said it has received observations from Sebi for its proposed IPO which comprises only fresh issue of Rs 2,600 crore.
The company operates as a fully integrated industrial and logistics platform, offering fulfilment centres, industrial facilities and in-city logistics centres to a diversified customer base across the country. It has a pan-India portfolio of around 60 million sqft, of which around 27 million sqft is completed, spread across 46 assets in 10 cities.
Blackstone has been with the company since 2020 and is now the sole promoter of the platform which integrates development, ownership and operations within an end-to-end business ecosystem, enabling the efficient delivery of Grade A industrial and logistics infrastructure.