India, Aug. 1 -- Update | Aug 1, 19:47 IST

Quick commerce startup Zepto officially confirmed that it has paused its IPO, saying it intends to focus on execution.

In a statement, the startup said its shareholders have approved a pre-IPO private placement of equity ahead of the proposed listing. It added that the proceeds from the financing will strengthen its balance sheet.

However, Zepto did not disclose the size of the pre-IPO round or provide a fresh timeline for its public listing.

"The company will update its DRHP filing for the operating results and financials in the coming quarters and intends to list within the timeframe provided by SEBI for its approved UDRHP," the statement said.

Original | Aug 1, 00:04 IST

Barely a day aft...