India, April 28 -- Quick commerce giant Zepto founders Aadit Palicha and Kaivalya Vohra are reportedly in advanced discussion for around INR 1,500 Cr (around $175.6 Mn) structured debt.

An ET report, citing sources familiar with the matter, said that the company is in talks with

Edelweiss Alternative Asset, domestic family offices and smaller credit funds.

Edelweiss has submitted a binding bid, and the loan carries a minimum interest rate of 16%, with an equity-linked upside, enhancing the total returns to about 18%, the report said.

"Edelweiss has given a binding term sheet and will anchor the raise by committing half of the amount," a source was quoted as saying in the report.

Sources also confirmed that the debt raise is being exe...