Zepto in negotiations for $250 million secondary sale ahead of IPO

Online grocer Zepto is in talks for current stockholders to sell as much as $250 million of their equity, a move aimed at boosting the ownership of Indian investors before the startup seeks to go public later this year.

The private equity arms of Motilal Oswal Financial Services Ltd. and Edelweiss Financial Services Ltd. are in discussions with the Bangalore-based startup to buy shares in the secondary sale, according to people familiar with the matter, who asked for anonymity to speak about confidential matters.