India, June 9 -- Zepto's IPO journey is now officially moving from that "startup buzz" phase into a more harsh SEBI filing reality check sort of deal. The company has filed its Updated Draft Red Herring Prospectus, or UDRHP, for the public listing it's been building toward for a while, which is a key step toward joining India's public markets. The total issue size is expected to land around Rs.9,500 crore to Rs.10,000 crore, with a mix of fresh issue capital plus an offer-for-sale (OFS) part. From that overall number, the fresh capital raise by itself is pegged at roughly Rs.8,010 crore.

Zepto is going for an eye-catching mark near $7 billion, which works out to about Rs.66,000 crore. This would place it solidly among the bigger, heavywe...