India, Sept. 1 -- Before we turn the talk to Zepto's IPO delay and how the company is looking to address the one problem that's been chiefly highlighted in the run up to the IPO, we need to perhaps revisit one key claim made by Aadit Palicha almost exactly two years ago.

After raising more than $1 Bn in 2024 at a valuation of $5 Bn, Palicha said investors are backing Zepto's execution.

That was August 2024 and since then we can argue that Zepto has vindicated that backing to some extent as its revenue more than doubled to Rs.22,623.6 Cr at the end of FY26 from Rs.11,109.9 Cr in FY25. But consolidated net loss jumped 26% YoY in FY26 to Rs.5,905 Cr from Rs.4,699.7 Cr in FY25, which is the other side of that VC balance. And today, it's arg...