According to the report citing regulatory documents, quick-commerce startup Zepto is changing the name of its parent firm from Kiranakart Technologies Private Limited to Zepto Private Limited.  The move, sanctioned by Mumbai’s Registrar of Companies (RoC), comes as the company prepares to make its stock market debut in the coming months.

Zepto, founded in 2021, has already gained traction in the most competitive 10-minute delivery category.  The company also relocated its headquarters to India from Singapore, which was officially completed in January of this year.  All of these developments occur as the quick-commerce site is apparently aiming for an IPO in the near future.

In India, to alter a company’s legal name, proprietors must first obtain shareholder approval, then file with the RoC and obtain clearance from the central government.

This move is similar to Zepto’s competitors, who renamed before to IPOs or when their platforms began to diversify.  Swiggy, which works in the similar food and grocery delivery industry, changed its legal name from Bundl Technologies Private Limited to Swiggy Private Limited before filing for an IPO in February 2024. Zomato also changed its corporate name to Eternal Limited, but stated that the brand and app identity remained same.

Zepto’s new name better connects the platform’s corporate identity with its consumer-facing brand.  Zepto can profit from this since it will increase brand recognition and streamline stakeholder engagement ahead of its public listing.

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Ahead of its IPO, Zepto has appointed Akhil Gupta, vice-chairman of Bharti Enterprises, as an independent director to its board.

The rapid commerce firm’s board currently includes Zepto co-founders Aadit Palicha and Kaivalya Vohra, Avra founder Anu Hariharan, and Nexus Venture Partners co-founder and Managing Director Suvir Sujan.

According to a source familiar with the matter, Zepto has named Akhil Gupta of Airtel to the company’s board.

Zepto’s appointments have not only aimed to bolster its board.  In recent years, the corporation has promoted several executives to top positions.

A year after joining the startup, Devendra Meel, senior vice president and head of Pass, was promoted to chief business officer in July of last year.  Previously, in January, former senior vice presidents Nikhil Mittal and Divesh Sawhney were elevated to chief technology officer and chief growth officer, respectively.

Zepto, which recently relocated from Singapore to India, has been accumulating funds in preparation for its IPO.

The company raised $1.35 billion in five months.  The Bengaluru-based company secured $665 million in June 2024 from Glade Brook Capital, StepStone Group, Nexus Venture Partners, and others before closing a $340 million round in August 2024 with General Catalyst and others.

Zepto later raised $350 million from Motilal Oswal, Ranjan Pai’s Claypond Capital, and other Indian investors.