New Delhi, July 31 -- Zepto has pressed pause on its initial public offering (IPO), while warehousing platform NDR InvIT has begun planning its public listing, according to separate media reports.

Also, Groww's co founders have been working to set up a second early-stage fund.

Zepto

Quick commerce startup Zepto has put its IPO plans on hold for now and has instead begun work on raising more than Rs 1,000 crore (around $105 million) through a pre-IPO placement, according to various media reports.

The round will see participation from existing investors including Glade Brook, General Catalyst, Goodwater Capital and Nexus Venture Partners, reports said.

According to a Moneycontrol report, Zepto is expected to raise the capital at a valuation of around $4-4.2 billion (around Rs 38,132-40,038 crore).

The quick commerce firm opted for the pre-IPO round after finding the terms proposed by domestic mutual funds for the IPO "unfavourable," the report noted

NDR InvIT

Warehousing platform NDR InvIT (infrastructure investment trust) Trust, which operates warehouses, is planning an initial public offering that could raise around Rs 1,000 crore (around $105 million), according to a Moneycontrol report.

The Bahrain-based alternative asset manager Investcorp-backed trust's IPO is expected to consist primarily of an offer for sale of units by existing investors, providing them with a partial liquidity opportunity, the report said, citing sources.

Discussions are at an early stage and the issue size, structure and timing could change closer to the filing of the draft red herring prospectus, the report added.

Groww co-founders' second fund

Groww's four cofounders are setting up a second fund to back seed and early-stage startups, according to The Economic Times, citing sources.

The Rs 400-500 crore (around $42-52.5 million) fund will back consumer internet and deeptech startups, the report added.

CEO Lalit Keshre, CFO Ishan Bansal, COO Harsh Jain and CTO Neeraj Singh will be the general partners of the fund and deploy their personal capital, ET said. It added that the founders don't plan to raise money from external limited partners. A small, dedicated investment team will handle sourcing, due diligence, and portfolio management under the founders' supervision, the report added.

Published by HT Digital Content Services with permission from VC Circle.