India, July 29 -- 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 raised capital in November 2024.

The NBFC is subscribing to the compulsorily convertible preference shares (CCPS) of the face value of INR 5 each, representing on a fully diluted basis 22,55,639 equity shares of the company for an amount of INR 33.23 per share.

Elcid's final aggregate shareholding after completion of the investment in Zepto would be 0.039% of the quick commerce giant's share capital.

As per the report, Zept...