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Business

Markets

Stocks, bonds, currencies and the money moving through them.

Markets · Section lead

Zepto’s IPO is a public‑market test of speed, scale... & burn?

The UDRHP shows a company with 640 million annual orders, 1,139 stores and ₹22,624 crore of FY26 revenue. It also shows adjusted EBITDA losses above ₹5,000 crore and an ownership structure still anchored by founder trusts and venture backers.

Karthik K Raman · 8 min read
Zepto revenue and adjusted EBITDA in crore rupees: FY24 4,455 and -1,125; FY25 11,110 and -4,522; FY26 22,624 and -5,042.

Latest in Markets

Office worker, robotic hand and corporate architecture in an ivory and gold conceptual collage.
business · The Breakdown

Indian IT Has Already Chosen Its AI Strategy. Sell the Transformation Instead of Fighting It.

Investors feared AI would disrupt Indian IT. Microsoft said Infosys, TCS and Wipro had each expanded Microsoft 365 Copilot licensing to more than 100,000 employees; TCS reported over $2.3 billion in annualised AI revenue in Q4 FY26.

Karthik K Raman · 2 min read