Quick commerce platform Zepto has disclosed in its updated Draft Red Herring Prospectus (DRHP) that its founders, Aadit Palicha and Kaivalya Vohra, were summoned by the Enforcement Directorate (ED) in April 2026 concerning the Foreign Exchange Management Act (FEMA). The founders provided requested documents related to foreign investments in the company.
The disclosure comes ahead of Zepto's planned initial public offering (IPO). The company stated that it is cooperating fully with the authorities and that the matter is not expected to have a material impact on its operations or financials.
Zepto, which operates in the quick commerce space, has seen rapid growth and significant foreign investment. The ED's inquiry appears to be part of a routine examination of foreign fund flows into Indian startups.
