Zepto may cut IPO size by 20%; investor bids peg valuation at $3.5

Zepto is considering cutting its IPO size by 20% to raise $650-700 million. Investors pushed for this change due to valuation concerns, as the company now eyes a $3.5-4 billion valuation. One person said, “Domestic mutual funds have been pushing hard for a rationalised pricing” before the upcoming price band announcement.