Zetwerk IPO: Company Files Updated IPO Papers For ₹2,600 Crore Issue

Zetwerk has filed updated IPO papers with the Securities and Exchange Board of India (SEBI). The company plans to raise ₹2,600 crore through a fresh issue of shares.

The Zetwerk IPO will also include an offer for sale (OFS) of up to 9.68 crore shares by existing investors. The company plans to use ₹1,800 crore from the fresh issue to repay debt.

How Zetwerk Plans To Use The IPO Proceeds

Of the fresh issue, ₹1,250 crore will be used to repay borrowings at the company level. Another ₹550 crore will go towards debt at its subsidiaries. The remaining funds are earmarked for potential acquisitions and general corporate purposes.

The OFS part of the IPO will give existing shareholders a chance to sell part of their stake. Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan are among those selling shares. Investors including Peak XV, Accel, Lightspeed and Kae Capital will also offload part of their holdings.

Zetwerk Manufacturing Businesses Pvt. Ltd. had filed its draft offer document through the confidential route in April. SEBI issued its observations in July, clearing an important regulatory step for the proposed issue.

How Is Zetwerk Performing Ahead Of The IPO?

Zetwerk's revenue from operations rose 40.4% to ₹15,913 crore in FY26 from ₹11,332 crore a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) also increased to ₹421 crore. Its manufacturing order book doubled to ₹12,370 crore during the year.

However, the company still faces pressure on profitability. Its FY26 pre-tax loss stood at ₹916 crore, partly due to one-off charges, according to the filing.

The Zetwerk IPO update does not yet mention the IPO price band, subscription dates or listing date.

Also Read - SEBI Proposes Colour-Coded Credit Risk-O-Meter For Debt Securities To Help Retail Investors