Elcid Investments Makes Strategic Stake in Zepto's Multibillion Dollar Valuation

Elcid Investments, a non-banking financial company, is set to invest Rs 7.5 crore in Zepto, pushing the quick commerce player's valuation to nearly USD 6 billion. The deal involves acquiring preference shares and an approximate 0.0146 percent stake, underlining Elcid's confidence in Zepto's burgeoning growth.

According to a regulatory filing by Elcid, Zepto's revenue is projected to rise to Rs 11,109.9 crore for FY25. While this reflects a substantial increase from the previous fiscal years, no official confirmation has been provided by Zepto regarding these figures.

The investment transaction, expected to finalize within 25 days, will see Elcid subscribing to compulsorily convertible preference shares. Despite efforts, Zepto did not respond to inquiries about the projected turnover or current fiscal health. Zepto has, however, managed to reduce its losses slightly over the last fiscal year.

(With inputs from agencies.)