Zepto defers its IPO; Urban Company slips into the red
Zepto has decided to pause its IPO amid pricing concerns. This and more in today's ETtech Top 5.
Zepto, a quick commerce company, has postponed its IPO plans due to disagreements over its valuation with large domestic mutual funds. Co-founder and CEO Aadit Palicha announced that the company will seek private capital from existing investors instead of listing on the stock market. Palicha also mentioned that Zepto will focus on reducing cash burn while driving growth before re-filing its prospectus.
Meanwhile, Atomberg Technologies, an appliance manufacturer, has successfully become a public company ahead of its planned IPO. The company filed its draft red herring prospectus (DRHP) and will raise Rs 1,500-2,000 crore in its initial public offering. Atomberg's valuation is significantly lower than the previous rounds it had undertaken.
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Also reported by 1 other outlet
- Urban Company slips into red in Q1, revenue jumps 44% yourstory.com
