Zetwerk's manufacturing business IPO received a 12% subscription on its first day of bidding, October 15, 2026. The company has set a price band of ₹143 to ₹151 per share, and the IPO will close on October 19. This initial public offering (IPO) is valued at ₹5,012.33 crore and includes both a fresh issue of shares and an offer for sale (OFS).
- The IPO is worth ₹5,012.33 crore, combining fresh shares and OFS.
- The price band is set between ₹143 and ₹151 per share.
- The IPO will close on October 19, 2026.
- Minimum investment for retail investors is 99 shares.
- Proceeds will be used for debt repayment, acquisitions, and corporate purposes.
What is included in Zetwerk's IPO?
The IPO consists of a fresh issue of shares valued at ₹2,830 crore and an offer for sale of 14.45 crore shares worth ₹2,182.33 crore. The fresh issue will help the company raise new capital, while the OFS allows existing shareholders to sell their shares.
Who are the sellers in the Offer for Sale?
Promoters Srinath Ramakkrushnan, Amrit Pratik Acharya, and Creovate Innovation are selling shares under the OFS. Other investors include Peak XV Partners Investments V, Lightspeed Venture Partners Select IV Mauritius, Accel India V (Mauritius), Kae Capital Fund II, Lightspeed India Partners II, Peak XV Partners Growth Investments III, and Kalysta Capital Fund II.
How will Zetwerk use the funds raised?
The company plans to use the fresh issue proceeds to repay debt for itself and its subsidiaries. Additionally, funds will support unidentified acquisitions and general corporate purposes. This strategy aims to strengthen the company's financial position and support growth.
What is Zetwerk's business focus?
Zetwerk is a technology-led, asset-light manufacturing platform that serves industrial and consumer goods sectors in India and globally. Its operations cover electronics, renewable energy, aerospace, AI infrastructure, defence, oil and gas, and industrial automation.
Who are Zetwerk's major customers?
The company serves notable clients such as Acer India, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, Siemens Gamesa, DRDO, the Indian Air Force, and Numaligarh Refinery Ltd. These partnerships highlight Zetwerk's significant role in various industries.
What was the anchor investor response?
Before the IPO, Zetwerk secured ₹2,251.23 crore from anchor investors. These include global and domestic institutions like BlackRock, Goldman Sachs, Nomura, Capital Group, First Sentier Investors, Norway's Government Pension Fund Global, Abu Dhabi Investment Authority, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance, and ICICI Prudential Life Insurance.
What are the key dates and investment details?
The IPO opened on October 15, 2026, and will close on October 19, 2026. Retail investors can participate with a minimum investment of 99 shares, with additional shares in multiples of 99. The price band is ₹143 to ₹151 per share.
