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Investing.com -- Online grocery company Zepto is reportedly in discussions to facilitate a secondary sale of equity worth up to $250 million, according to Bloomberg News. The move is intended to increase Indian investor ownership ahead of the company’s planned initial public offering (IPO) later this year.
The private equity divisions of Motilal Oswal Financial Services Ltd. and Edelweiss Financial Services (NSE:EDEL) Ltd. are in talks with the Bangalore-based startup to purchase shares in this secondary sale, as reported by Bloomberg, citing sources close to the matter.
Zepto does not plan to raise any additional capital during this process. However, the secondary sale will allow some of its employees and existing investors to sell their shares for cash. The company is looking to carry out these transactions at a valuation slightly above $5 billion. This valuation matches the level from its most recent round of funding, which took place late last year, according to the same sources.
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