Zepto vs Blinkit vs Instamart: Who Is The Ultimate Q-Commerce King As Zepto IPO Approaches?

Zepto vs Blinkit vs Instamart: Quick commerce platform Zepto is all set to launch its initial public offering (IPO) by July this year. Founded by Aadit Palicha and Kaivalya Vohra, Zepto is in direct competition with Blinkit and Instamart. As Dalal Street gears up for the Zepto IPO, let's dive into the details of the offering and see how the company stacks up against Eternal's Blinkit and Swiggy's Instamart.

Zepto vs Blinkit vs Instamart

First things first, post Zepto IPO, investors can get direct exposure to quick instant delivery business. On the other hand, investors will have to purchase Eternal shares to get exposure to Blinkit or Swiggy shares for exposure into Instamart business. Zepto's two rivals are not individually listed on the exchanges.

Zepto vs Blinkit vs Instamart: Total Orders in FY26

Blinkit tops the race in terms of total orders, as the quick commerce platform secured 916.6 million orders in financial year 2025-26. Whereas, Zepto and Instamart secured 640.2 million and 412.2 million orders in the duration, as per a CNBC TV 18 analysis.

Zepto vs Blinkit vs Instamart: Revenue, Ad EBITDA Loss, Closing Store Count

Zepto's FY 26 revenue stood at Rs 22,624 crore in FY 26, whereas, Blinkit's total revenue came in at Rs 37,779 crore. Swiggy Instamart earned Rs 3,859 crore revenue in FY26.

Zepto's adjusted EBITDA loss for full FY 26 stood at Rs 5,042 crore, the largest among its peers. With Rs 3,511 crore of adjusted EBITDA loss, Swiggy Instamart came on third list, and Blinkit had the least amount of adj. EBITDA loss in FY 26, ie of Rs 277 crore.

Zepto vs Blinkit vs Instamart: Closing Store Count

Blinkit has a closing store count of 2,243, Zepto had a closing store count of 1,139 and Instamart had a closing store count of 1,143.

Zepto IPO Details

Quick commerce unicorn, Zepto, plans to raise around Rs 8,010 crore of fund through a fresh issue of shares as part of its proposed IPO, as per its latest draft papers filed with SEBI last week.

Along with the fresh issue, there will be an offer for sale (OFS) of 11.35 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). The overall issue size is estimated at around Rs 11,000 crore. Zepto is expected to launch the IPO in July, reported PTI citing sources.

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