Zepto IPO setback highlights fault lines in India’s quick commerce sector

Profitability concerns and intensive competition stunt investor enthusiasm Zepto's losses soared 25% year on year to 59 billion rupees ($620 million) in the fiscal year ending March. (Photo by Yuki Kohara) BENGALURU — When India's commerce minister publicly rued the dearth of cutting-edge innovation by homegrown startups at an event last year, chiding them for choosing to make ice cream over semiconductors, a co-founder of quick commerce company Zepto hit back.

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