Zepto has enhanced its employee stock ownership plan (ESOP) by $170 million (approximately ₹1,495 crore), raising the total size of its option pool to over $500 million, according to filings with the Registrar of Companies (RoC). This update introduces 3.94 million new options to the existing scheme, resulting in a cumulative pool of about 12.3 million options, now valued at around $527 million (₹4,637 crore). This positions Zepto among the largest ESOP pools in Indian consumer internet start-ups.
This expansion follows Zepto’s recent $450 million funding round, which consisted of both primary and secondary transactions, with the majority represented by primary capital. The funding round was led by the California Public Employees’ Retirement System (CalPERS), signifying one of the initial significant direct investments by the US-based pension fund in an Indian start-up.
Participating in the funding round were existing investors including Avenir, Avra, Lightspeed, Glade Brook, StepStone Group, and Nexus Venture Partners, elevating Zepto’s valuation to $7 billion, an increase from $5 billion the previous year. The quick commerce firm has now raised over $2 billion within the last two years.
Zepto’s decision comes as competition intensifies in the rapid delivery sector, particularly with Amazon and Flipkart introducing their Now and Minutes services. Recently, the company revamped its app to address user-reported dark patterns and launched a pharmacy delivery service that promises 10-minute delivery of medicines in major metropolitan areas such as Delhi-NCR, Mumbai, Bengaluru, and Hyderabad.
Published on October 17, 2025.
