Zetwerk to Launch IPO on October 15, Aiming for ₹2,830 Crore
Bengaluru-based Zetwerk Manufacturing Business will debut its IPO, featuring a fresh issue of ₹2,830 crore and an offer-for-sale component.
Zetwerk's IPO will open on October 15, 2026, with a fresh issue of ₹2,830 crore.
The company plans to utilize ₹2,160 crore from the IPO proceeds to repay debts.
Zetwerk reported a narrowed net loss of ₹732.9 crore for the June 2026 quarter.
Zetwerk Manufacturing Business, a technology-driven manufacturing platform based in Bengaluru, is set to initiate its initial public offering (IPO) on October 15, 2026. The IPO will include a fresh issue of shares valued at ₹2,830 crore, as stated in the red herring prospectus filed on October 11. Additionally, the company's promoters and investors will offer up to 14.45 crore equity shares through the offer-for-sale (OFS) route.
The fresh issue amount has been increased from the previously proposed ₹2,600 crore. The OFS component has also been raised from the initial 9.68 crore equity shares mentioned in the updated draft red herring prospectus submitted on August 13. Zetwerk began its IPO journey by filing a draft offer document in March 2026, which received approval from the Securities and Exchange Board of India (SEBI) in July 2026.
The IPO process will see the anchor book for institutional investors open for one day on October 14, with public subscription closing on October 19. Share allotment is expected to be finalized on October 21, followed by the listing of shares on stock exchanges on October 23. The company is set to announce the IPO price band on October 12. Of the net offer, 75% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors.
Founded by Amrit Pratik Acharya and Srinath Ramakkrushnan, Zetwerk operates a technology-led manufacturing platform that serves various sectors, including utilities, aerospace, and consumer electronics. The company aggregates manufacturing capabilities from third-party suppliers and its own facilities, creating an integrated network supported by its proprietary Zetwerk OS platform. Notable clients include Siemens Gamesa, Indian Oil Corporation, and the Indian Air Force.
Zetwerk plans to allocate ₹2,160 crore of the IPO proceeds to repay existing borrowings, with the remaining funds earmarked for potential acquisitions and general corporate purposes. Currently, the promoters hold a 20.66% stake, while public shareholders own 79.34%. The company reported a narrowed net loss of ₹732.9 crore for the quarter ending June 2026, with a year-on-year revenue increase of 55.4% to ₹4,117.9 crore.
