Zetwerk IPO May Open October 15 As Company Plans Up To $525 Million Issue At $2.8 Billion Valuation
Add Preferred News Source
Zetwerk could launch its IPO as early as October 15 and raise up to $525 million, with the manufacturing platform targeting a valuation of around $2.8 billion.
Zetwerk is preparing to launch its initial public offering (IPO) as early as next week, with the manufacturing platform looking to raise as much as $525 million at a valuation of around $2.8 billion.
The Zetwerk IPO could open for subscription on October 15 and the company is targeting a stock market listing around October 23, Bloomberg reported, citing people familiar with the matter. The proposed issue will include a fresh issue of shares and an offer for sale by existing shareholders, though the final size and timeline could still change.
The reported launch plan comes after Zetwerk filed updated IPO papers in August for a fresh issue of up to ₹2,600 crore and an offer for sale of up to 9.68 crore equity shares. The company had received the Securities and Exchange Board of India's observations on its IPO papers in July.
Zetwerk has also held meetings with potential investors ahead of the proposed issue as it moves closer to one of the larger new-age company listings in India this year.
Zetwerk IPO Size And Offer Details
The updated offer documents showed that Zetwerk plans to raise up to ₹2,600 crore through fresh shares, while promoters and existing investors will sell up to 9.68 crore shares through the OFS.
Founders Amrit Acharya and Srinath Ramakkrushnan are among those looking to sell shares, along with investors including Peak XV, Accel, Lightspeed and Kae Capital.
Zetwerk plans to use ₹1,250 crore from the fresh issue to repay or prepay borrowings at the company level and ₹550 crore towards debt repayment at nine subsidiaries. The remaining proceeds are proposed to be used for acquisitions, strategic investments and general corporate purposes.
The company is now targeting a valuation of around $2.8 billion for the IPO, according to the Bloomberg report. The final price band, issue size and offer dates have not yet been formally announced.
Zetwerk Revenue Rises 40% In FY26
Zetwerk's revenue from continuing operations rose 40.4% to ₹15,913.3 crore in FY26 from ₹11,331.9 crore a year earlier.
Adjusted EBITDA increased to ₹421.3 crore from ₹322.6 crore, while adjusted profit before tax stood at ₹45.7 crore compared with a loss of ₹149.2 crore in FY25.
The company reported a restated loss of ₹1,606.2 crore for FY26, including exceptional charges linked to share-conversion adjustments and an impairment related to its discontinued civil infrastructure business.
Zetwerk operates a manufacturing platform across sectors including electronics, energy, aerospace, defence and capital goods. Its manufacturing order book stood at ₹12,370 crore at the end of FY26, compared with ₹8,629 crore a year earlier. The company is yet to formally announce the IPO price band and final offer dates.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
Right Tools, Rich Insights
