Latest News | Motilal Oswal, Raamdeo Agrawal Buy USD 100 Mn Zepto Shares; Another USD 250 Mn Round Planned
Get latest articles and stories on Latest News at LatestLY. Motilal Oswal Financial Services Co-Founders Motilal Oswal and Raamdeo Agrawal have purchased Zepto shares worth USD 50 million (about Rs 424 crore) each in a secondary transaction, while an additional USD 250 million round is in the pipeline, according to people familiar with the matter.
New Delhi, May 12 (PTI) Motilal Oswal Financial Services Co-Founders Motilal Oswal and Raamdeo Agrawal have purchased Zepto shares worth USD 50 million (about Rs 424 crore) each in a secondary transaction, while an additional USD 250 million round is in the pipeline, according to people familiar with the matter.
The shares have been acquired from foreign investors, they said.
The USD 100-million deal was executed from their proprietary books and marks a significant step in Zepto's ongoing push to increase Indian ownership ahead of its planned IPO.
Currently, Indian ownership in Zepto stands at just over 42 per cent, with other transactions in the pipeline expected to further boost this figure. The company has set an internal target of crossing the 50 per cent domestic shareholding threshold before its IPO.
In addition to the USD 100-million purchase, Motilal Oswal Financial Services is leading a larger USD 250 million secondary round through its clients, the sources told PTI.
Edelweiss and Hero FinCorp are also participating in these transactions, bringing the total to USD 350 million.
All deals are being executed at Zepto's previous valuation of USD 5 billion, set in August 2024.
The binding documents for the USD 250-million round have been signed, and a formal announcement is expected in June after due diligence is complete.
Queries sent to Zepto did not elicit a response.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)