Zepto IPO hurdle revives investor interest in Swiggy, Eternal; shares set for best month in years

Zepto’s steep IPO valuation reset is rapidly reshaping investor bets on India’s quick commerce market, putting listed rivals Swiggy and Eternal on course for their strongest monthly performances in years as traders wager that a cash-constrained competitor will struggle to defend market share.

Swiggy shares have surged nearly 24% in July, heading for their best month since the company listed in November 2024. Industry leader Eternal has gained 17%, its strongest monthly advance in more than two years.