ED summoned Zepto founders Aadit Palicha, Kaivalya Vohra earlier this year: Report
The disclosure is part of Zepto’s updated DRHP filed with SEBI as the company moves forward with its initial public offering (IPO). Zepto aims to raise Rs 8,010 crore through a fresh issue of shares.
- Jun 9, 2026,
- Updated Jun 9, 2026 8:49 AM IST
The Enforcement Directorate (ED) summoned Zepto founders Aadit Palicha and Kaivalya Vohra earlier this year, as disclosed in the company’s updated draft red herring prospectus (DRHP). The summons, issued on April 8, 2026, sought information on foreign and overseas investments, audited financial statements since FY21, shareholding patterns, loans and guarantees, income tax returns, bank account details, immovable properties, and a note on the company’s business model.
According to a report in Moneycontrol that cited the filing, Vohra appeared before the ED on April 17 and April 22, while Palicha appeared on April 20 and May 15. The founders submitted the requested information and documents, along with additional details about the company’s holding structure, scheme of arrangement, business agreements, and invoices, it said. The company stated that it and its founders have not received any further communication regarding the summons.
MUST READ | Inside Zepto’s dark store: A glimpse of quick commerce at India AI Impact Summit 2026
Despite this, Zepto informed investors that it cannot guarantee there will be no future inquiries, investigations, legal proceedings, or penalties related to the matter. This disclosure is part of Zepto’s updated DRHP filed with SEBI as the company moves forward with its initial public offering (IPO). Zepto aims to raise Rs 8,010 crore through a fresh issue of shares.
The updated prospectus also highlighted Zepto’s latest financial performance. Revenue from operations increased to Rs 24,164 crore in FY26 from Rs 11,109 crore in FY25, while the net loss narrowed to Rs 1,248.6 crore from Rs 1,953.7 crore, it added. For the March quarter, revenue grew 75 per cent year-on-year to Rs 7,498 crore. The company also reported a significant reduction in its adjusted EBITDA loss during the year.
One of the largest quick commerce companies, Zepto was founded in 2021 by Palicha and Vohra. It competes with Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now. The company received SEBI approval for its IPO earlier this year and is expected to be one of the most closely watched technology listings in India.
The Enforcement Directorate (ED) summoned Zepto founders Aadit Palicha and Kaivalya Vohra earlier this year, as disclosed in the company’s updated draft red herring prospectus (DRHP). The summons, issued on April 8, 2026, sought information on foreign and overseas investments, audited financial statements since FY21, shareholding patterns, loans and guarantees, income tax returns, bank account details, immovable properties, and a note on the company’s business model.
According to a report in Moneycontrol that cited the filing, Vohra appeared before the ED on April 17 and April 22, while Palicha appeared on April 20 and May 15. The founders submitted the requested information and documents, along with additional details about the company’s holding structure, scheme of arrangement, business agreements, and invoices, it said. The company stated that it and its founders have not received any further communication regarding the summons.
MUST READ | Inside Zepto’s dark store: A glimpse of quick commerce at India AI Impact Summit 2026
Despite this, Zepto informed investors that it cannot guarantee there will be no future inquiries, investigations, legal proceedings, or penalties related to the matter. This disclosure is part of Zepto’s updated DRHP filed with SEBI as the company moves forward with its initial public offering (IPO). Zepto aims to raise Rs 8,010 crore through a fresh issue of shares.
The updated prospectus also highlighted Zepto’s latest financial performance. Revenue from operations increased to Rs 24,164 crore in FY26 from Rs 11,109 crore in FY25, while the net loss narrowed to Rs 1,248.6 crore from Rs 1,953.7 crore, it added. For the March quarter, revenue grew 75 per cent year-on-year to Rs 7,498 crore. The company also reported a significant reduction in its adjusted EBITDA loss during the year.
One of the largest quick commerce companies, Zepto was founded in 2021 by Palicha and Vohra. It competes with Blinkit, Swiggy Instamart, Flipkart Minutes, and Amazon Now. The company received SEBI approval for its IPO earlier this year and is expected to be one of the most closely watched technology listings in India.