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Market Chatter: Investors Slash Zepto Valuation by 68%, Prompting IPO Delay

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Zepto postponed its initial public offering in India after prospective investors assigned the company a valuation of about $2.3 billion during last month's roadshow, about 68% below its previous valuation, Bloomberg News reported, citing people familiar with the matter.

SBI Funds Management (NSE:SBIFUNDS, BOM:544829), India's largest mutual fund, and other domestic asset managers were willing to pay about 17 to 18 rupees a share in the anchor tranche, according to the report.

Zepto and SBI Funds Management did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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