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Zepto co-founders Aadit Palicha and Kaivalya Vohra received summons from the Enforcement Directorate (ED) successful April this year, seeking accusation and documents related to overseas investments, financials, and the company’s business, successful transportation with proceedings nether the Foreign Exchange Management Act (FEMA). The IPO-bound speedy commerce steadfast has disclosed successful its updated Draft Red Herring Prospectus (UDRHP).
The disclosure appears successful the conception connected hazard factors of the latest document.
According to the updated DRHP, the ED sought details including overseas and overseas investments, audited fiscal statements, shareholding patterns, accusation connected loans and guarantees, income taxation returns, slope accounts, immovable properties, and a enactment connected Zepto’s concern model. The summons, dated April 8, 2026, required the founders to look earlier the ED to furnish applicable documents and information.
“Two of our promoters, namely, Aadit Palicha and Kaivalya Vohra, had received summons, each dated April 8, 2026, from the Directorate of Enforcement, Ministry of Finance, Government of India, requiring them to look earlier the ED, to nutrient definite documents and/or supply accusation successful narration to our institution and/or themselves...,” it said.
Information sought pertained to “details of overseas investments and overseas investments; audited equilibrium sheets since Financial Year 2020-2021; owned immovable properties; shareholding pattern; details of loans/guarantees; income taxation returns and slope accounts; enactment connected our concern model, successful narration to proceedings nether the Foreign Exchange Management Act, 1999”.
Zepto further said that complying with the summons, Mr. Vohra appeared earlier the ED connected April 17, 2026 and April 22, 2026, and Mr. Palicha connected April 20, 2026 and May 15, 2026, respectively.
“As connected the day of this Updated Draft Red Herring Prospectus-I, they person provided applicable accusation and documents arsenic requested by ED pursuant to the summons, arsenic good arsenic follow-on accusation requested by the ED further to their interactions, including definite details successful narration to our holding structure, the scheme, and further accusation successful narration to our concern specified arsenic concern agreements and invoices,” it said.
Zepto’s draught IPO papers said that arsenic connected the day of the updated Draft Red Herring Prospectus, it has not received immoderate further connection from the ED aft submission of the responses, but added, “we cannot guarantee you determination volition not beryllium aboriginal inquiries oregon that these could escalate to investigations, ineligible proceedings oregon immoderate imaginable penalties”.
Zepto connected Monday (June 8, 2026) filed updated draught papers with the markets regulator SEBI to rise ₹8,010 crore done a caller contented of shares arsenic portion of its projected Initial Public Offering (IPO).
Along with the caller issue, determination volition beryllium an Offer For Sale (OFS) of 11.35 crore equity shares by existing shareholders, according to the Updated Draft Red Herring Prospectus (UDRHP).
