India, July 29 -- Update | July 29, 1:26 PM

Non-banking finance company (NBFC) Elcid Investments is increasing its stake to 0.039% in Zepto for INR 7.5 Cr.

The current investment will value Zepto more than $5 Bn as it was in the previous round, the company said.

"Elcid, an existing shareholder, is increasing its stake to 0.039% as part of this round a reflection of the updated, higher valuation," it added.

Original | July 29, 11:50 AM

Non-banking finance company (NBFC) Elcid Investments is reportedly picking up a 0.039% stake in quick commerce startup Zepto for INR 7.5 Cr.

An Arc report said that the investment will likely value the company at $2.22 Bn (INR 19,321 Cr) and is less than half of its last valuation of $5 Bn when it rais...