India Digest: Zepto to tap Edelweiss, others for debt; Cars24 lays off employees

Quick commerce unicorn Zepto’s founders, Aadit Palicha and Kaivalya Vohra, are in advanced discussions with Edelweiss Alternative Asset Advisors, several domestic family offices, and small credit funds to raise about Rs 1,500 crore (over $175 million) through a structured debt transaction, The Economic Times reported, citing people familiar with the matter. Separately, Indian used car platform Cars24 has laid off over 200 employees across various functions as part of a cost-cutting exercise.