Motilal Oswal Financial Services Acquires 7,54,97,341 Compulsorily Convertible Preference Shares of Zepto for INR 3400 Crore

Motilal Oswal Financial Services Ltd. has acquired 7,54,97,341 Compulsorily Convertible Preference Shares of Zepto Private Limited (formerly known as Kiranakart Technologies Private Limited) for a consideration of INR 3400 Crore. Zepto is an Indian quick commerce platform offering a 10-minute grocery delivery service, founded in 2021 by Aadit Palicha and Kaivalya Vohra. The acquisition is a part of Motilal Oswal's treasury investment book, executed with the objective of generating sustainable, long-term returns.