Elcid Invests Rs 7.5 Cr in Zepto

New Delhi, Jul 29 (PTI) Non-banking financial company Elcid Investments on Tuesday said it will invest up to Rs 7.5 crore and pick up a small stake in Zepto, which values the quick commerce player at nearly USD 6 billion.

In a regulatory filing, Elcid pegged the quick commerce player's revenue at Rs 11,109.9 crore for FY25.

There was, however, no official word from Zepto itself corroborating the revenue figures quoted by Elcid in a BSE filing.

As per the Elcid filing, the deal, expected to close within 25 days, is structured as a cash consideration and values Zepto at USD 5.9 billion.

"The company (Elcid Investments Ltd) intends to invest up to Rs 7.5 crore approximately for subscribing to the compulsorily convertible preference shares ('CCPS') of the face value Rs 5 each, representing on a fully diluted basis 22,55,639 equity shares of the company for an amount of Rs 33.25 per share.

"The percentage of stake acquired pursuant to the investment of Rs 7,50,00,000 in Zepto is approximately 0.0146 per cent of Zepto's share capital," the filing said.

The filing said Zepto reported a turnover of Rs 11,109.9 crore in FY25.

Zepto had posted a revenue of Rs 4,454 crore in FY24, more than a two-fold increase from Rs 2,025 crore in the previous fiscal year.

It had marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 2022-23, as per data from Tofler.

An email query sent to Zepto did not elicit any response.