Aadit Palicha-led fast commerce unicorn Zepto has reportedly taken a key step in the direction of going public by changing itself right into a public restricted firm, in keeping with a PTI report.

It has modified its registered title from Zepto Private Limited to Zepto Restricted following a particular decision handed by its shareholders, the report famous.

The change is a part of its preparation for an preliminary public providing. Zepto is predicted to file its draft prospectus earlier than December 15.

The event comes after Zepto raised $450 million in a funding spherical, of which about $300 million got here as major capital from current buyers together with Lightspeed, Avenir Progress and Basic Catalyst.

The spherical valued the corporate at $7 billion. It’s anticipated to boost $450 to $500 million in contemporary capital by its IPO.

Zepto posted income of Rs 4,454 crore in FY24, greater than double the Rs 2,026 crore it recorded in FY23. Losses narrowed barely from about Rs 1,272 crore in FY23 to Rs 1,249 crore in FY24. For FY25, it reported income of practically Rs 11,110 crore.