Zetwerk Sets IPO Price Band at ₹143-151, Targets ₹5,012 Crore
Bengaluru-based Zetwerk aims to raise ₹5,012 crore through its IPO, opening for subscription on October 15.
Zetwerk's IPO price band is set at ₹143-151 per share.
The company plans to utilize ₹1,300 crore for debt repayment and ₹860 crore for subsidiary debts.
Zetwerk's revenue increased significantly, reaching ₹15,913 crore in FY26.
Zetwerk, a manufacturing platform based in Bengaluru, has announced the price band for its upcoming initial public offering (IPO) at ₹143 to ₹151 per share. The company is looking to raise approximately ₹5,012 crore through this public issue, which would value it at around ₹25,583 crore if priced at the upper limit of the band. The IPO is set to open for subscription on October 15 and will close on October 19, with shares expected to list on stock exchanges by October 23.
The IPO consists of a fresh issue of shares valued at ₹2,830 crore, alongside an offer for sale (OFS) of 14.45 crore shares by promoters and existing investors, as detailed in its red herring prospectus (RHP). Notably, Zetwerk has increased the size of the fresh issue from ₹2,600 crore, as proposed in its updated draft red herring prospectus filed in August. The OFS component has also seen a 49% increase from the previously proposed 9.68 crore shares.
Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan will each sell 1.42 crore shares, while the promoter group entity Creovate Innovation plans to offload up to 2.30 crore shares. Existing investors like Lightspeed Venture Partners and Peak XV Partners will sell 2.51 crore and 2.34 crore shares, respectively, with Accel India V also participating by selling up to 1.2 crore shares.
The funds raised from the fresh issue will be allocated strategically, with ₹1,300 crore earmarked for repaying or prepaying borrowings at the company level, and ₹860 crore directed towards debt repayment across nine subsidiaries. The remaining proceeds will be utilized for acquisitions, strategic investments, and general corporate purposes.
Founded in 2017, Zetwerk operates a technology-driven manufacturing platform that connects businesses with manufacturers and suppliers across various sectors, including electronics, energy, aerospace, defense, and industrial automation. Financially, Zetwerk reported a revenue increase from ₹11,332 crore in FY25 to ₹15,913 crore in FY26. In the first quarter of FY27, the company's revenue surged by 55% year-on-year to ₹4,118 crore, while losses from continuing operations decreased significantly from ₹881 crore to ₹64 crore in the same period last year.
