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Zepto has taken a big step towards its Initial Public Offering (IPO) by officially renaming its parent company. The startup was originally known as Kiranakart Technologies Private Limited and has been rebranded to Zepto Private Limited. According to media reports, it's mainly done to align its corporate identity with its consumer brand.
This change is approved by the Registrar of Companies (RoC) in Mumbai, will help the company to improve its brand recognition and streamline its IPO preparations. Why Zepto Changes Parent Company's Name?
Renaming a company's legal entity is a critical process which needs shareholder approval, regulatory filings with the RoC, and central government clearance. Prior to Zepto other tech companies like Swiggy rebranded its parent entity from Bundl Technologies to Swiggy Private Limited. Zomato renamed itself as Eternal Limited before the IPO.
These rebrandings help the companies to improve brand visibility and engagement with stakeholders prior to IPO. Zepto Brand Identity
Zepto was Initially focused on delivering groceries (kirana) quickly to households, but has emerged as a quick commerce brand in recent times with its brand name.
Name change will bring ringing legal and brand names under one banner for better recognition during IPO. For customers it will become easy to identify the company with its popular name while the stock is listed on the stock market during the IPO. It also helps to develop relationships with regulators and stakeholders. Zepto's Growth Story
Zepto was founded in 2021 and started the 10-minute grocery delivery model in India. Operating on a dark store model, the company fulfills local orders through centrally located warehouses.
They also relocated its headquarters from Singapore to India, to assure its commitment to the domestic market and getting ready for a public listing.
Zepto IPO Plan
An Initial Public Offer (IPO) allows private companies to sell shares to the public, with listings typically on exchanges like the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE). Zepto's IPO can help the company to raise capital to support expansion and growth plans or for debt repayment to improve its financial health and maintain market credibility and win investors' confidence.
Zepto can aso effectively compete with major players like Blinkit (acquired by Zomato), Swiggy Instamart and BigBasket's BB Now.
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