India, Aug. 12 -- Adding to its spree of fundraises in the past two weeks, quick commerce major Zepto has now raised INR 400 Cr (about $45.7 Mn) from financial services company Motilal Oswal Financial Services Ltd (MOFSL).
The all-cash transaction saw MOFSL subscribe to 7.6 Cr compulsorily convertible preference shares (CCPS) of the startup. In an exchange filing today, MOFSL said that the share acquisition is a part of the treasury investment book, "executed with the objective of generating sustainable, long-term returns".
This comes months after MOFSL's founders Motilal Oswal and Raamdeo Agrawal bought Zepto shares worth $100 Mn in May. In the filing, MOFSL informed that its "promoter and promoter group" currently hold 48,720 CCPS of ...
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