Zetwerk Files for IPO: A Major Step in B2B Ecommerce

B2B ecommerce platform Zetwerk has submitted draft documents for an initial public offering through the confidential method, as reported by Moneycontrol. The company aims to secure up to Rs 4,200 crore (approximately $450 million) from this initiative.

Pre-IPO Plans and Valuation

In a separate update, an ET report indicated that Zetwerk is contemplating a pre-IPO round of Rs 500 crore, with an anticipated valuation of $3 billion ahead of the listing.

Company Overview

Established in 2018, Zetwerk operates a contract manufacturing platform catering to industries including consumer electronics, aerospace, and industrial sectors in global markets.

Financial Performance

The gross revenue for Zetwerk saw an 11% decline, dropping to Rs 12,798 crore in FY25 from Rs 14,443 crore in FY24. However, losses decreased significantly by 60%, with figures falling to Rs 371 crore in FY25 compared to Rs 918 crore in FY24.

Investor Support

Zetwerk has successfully raised a total of $889 million to date. Its investors include notable names such as Greenoaks, Peak XV Partners, Lightspeed Venture Partners, and Accel.

Industry Competition

Startup Superb has reached out to Zetwerk for insights regarding the IPO draft document submissions. Meanwhile, Zetwerk’s competitor, Infra.Market, had already submitted a confidential draft to SEBI for a Rs 5,000 crore IPO in October last year and received approval from SEBI in January this year. Additionally, OfBusiness, a leading player in the industry, is planning an IPO approaching $1 billion, although a specific timeline has not yet been announced.