Zepto IPO Delayed to 2026: What’s Holding Back the Quick Commerce Giant?

India’s quick commerce darling, Zepto, was gearing up for a massive IPO in 2025. But that road to listing just got bumpier. The company is now reportedly pushing its IPO plans to the second half of 2026, as several operational and perception issues have surfaced - from regulatory hurdles to customer dissatisfaction and vendor complaints.

Let’s break down what’s really going on with Zepto and what it means for its IPO dreams.

What’s Going Wrong at Zepto?

The past few months haven’t been easy for Zepto. While the company was riding high on investor confidence and user adoption, a series of red flags has slowed down its momentum.

In fact, competitors like Swiggy and Eternal saw their market caps rise by nearly ₹30,000 crore, largely driven by Zepto’s recent stumbles. The irony? One company’s trouble becomes another’s tailwind.

Regulatory Hurdles: The FDA Ban

Zepto’s quick food delivery arm came under fire when the FDA conducted an investigation into its Dharavi dark store and uncovered serious hygiene and food safety violations.

While the Zepto CEO pointed fingers at a rival CFO for triggering the issue, the facts from the FDA report were hard to ignore. The Dharavi facility was banned from operations, and more Zepto locations are now under the regulatory lens.

This episode has raised critical questions:
Is Zepto compromising food safety in its quest for 10-minute deliveries?

For a consumer-facing business, especially one in food delivery, trust is everything. And a lapse in hygiene isn’t something investors - or customers - forget easily.

Customer Concerns and Dark Patterns

Another major concern? Dark patterns.

In the world of ecommerce, dark patterns refer to tactics used to subtly push users into making decisions they may not consciously agree to. And Zepto has been accused of exactly that.

From nudging customers toward unwanted add-ons to subtle "peer pressure" tactics like customer shaming, many users have complained on forums like Reddit. Issues include:

• Automatic product bundling
• Packaging inconsistencies
• Delivery quality not matching app promises

For a brand aiming to go public, this type of online reputation damage can hurt valuations and shake investor confidence.

Vendor and Partner Complaints

Like many fast-scaling ecommerce players, Zepto reportedly operates on a negative working capital model, meaning it pays vendors after collecting revenue from customers. This helps manage cash burn, but it can go wrong when vendor payments are delayed.

Several vendors and lessors have complained about delays in payments, which is creating a ripple effect in their operations too. The complaints around Zepto’s payment cycles are more frequent and louder compared to competitors.

In a space where perception is key, this has added to the growing concerns.

How This Affects Zepto’s IPO Timeline

Initially expected to list in 2025, Zepto's IPO is now postponed to the second half of 2026. While DRHP filing may still happen in 2025, the actual listing will likely wait until the company:

• Resolves regulatory investigations
• Cleans up its vendor relations
• Improves its customer experience
• Rebuilds public perception

Given the hygiene issues, dark pattern allegations, and vendor backlash, Zepto must act fast to regain momentum.

What Zepto Needs to Fix Before 2026

Zepto still has strong fundamentals - a growing user base, market potential, and backers who believe in the quick commerce model. But before it hits the public markets, it must:

• Show operational transparency
• Put customer safety at the forefront
• Build better vendor relationships
• Avoid aggressive monetization tactics that erode trust

The Zepto valuation will depend not just on numbers, but on how well it restores credibility in the coming year.

Final Thoughts: Is the Delay a Bad Sign?

Not necessarily. In fact, delaying the IPO could be the smart move.

Quick commerce is still evolving in India, and investors are watching closely. Zepto has a solid shot at becoming one of the three dominant players in the space. But it must earn back the trust it lost.

In sectors like food and finance, perception is as important as performance. If Zepto can fix what’s broken, this delay might just be a small pause before a powerful comeback.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Any investment decisions related to Zepto or its IPO should be made based on thorough research or consultation with a financial advisor.