Non-banking finance company (NBFC) Elcid Investments is reportedly picking up a 0.039% stake in quick commerce startup Zepto for INR 7.5 Cr.
An Arc report said that the investment will likely value the company at $2.22 Bn (INR 19,321 Cr) and is less than half of its last valuation of $5 Bn when it raised capital in November 2024.
The NBFC is subscribing to the compulsorily convertible preference shares (CCPS) of the face value of INR 5 each, representing on a fully diluted basis 22,55,639 equity shares of the company for an amount of INR 33.23 per share.
Elcid’s final aggregate shareholding after completion of the investment in Zepto would be 0.039% of the quick commerce giant’s share capital.
As per the report, Zepto made INR 11,109.9 Cr revenue in the financial year ending March 2025 (FY25), a 149% increase from INR 4,454.52 Cr in FY24.
Earlier this month, a CNBC-TV18 report, citing sources, said that Zepto is planning to raise up to $500 Mn in a fresh funding round that will value the company at around $7 Bn.
(The story will be updated soon)
The post Elcid To Pick Up Stake In Zepto At Reduced Valuation Of $2.2 Bn: Report appeared first on Inc42 Media.
You may also like
What is Leqembi? The first Alzheimer's treatment approved today in Saudi Arabia
Hot weather forecast as 39C heatwave scorches UK - full list of 15 hottest counties
Value Scope: Each way horseracing tips from Steve Jones for Wednesday at Goodwood on ITV
Brussels bomb threat LIVE: Police swarm city centre as Anspachlaan cordoned off
Simple kitchen waste ingredient to feed your lawn in August to help it grow thicker and greener