Zetwerk IPO Price Range and Key Details
Zetwerk has established its IPO price band between Rs 143 and Rs 151 per share. Based in Bengaluru, the company is targeting to collect approximately Rs 5,012 crore through this public offering, leading to a valuation of around Rs 25,583 crore at the top end of the price band. The IPO is set to be available for subscription from October 15 until October 19. The company will initiate its anchor investor book on October 14, with shares anticipated to be listed on stock exchanges on October 23.
Details of the IPO Structure
The IPO consists of a fresh share issue valued at Rs 2,830 crore along with an offer for sale (OFS) of 14.45 crore shares from promoters and current investors, based on the red herring prospectus (RHP). Zetwerk has expanded the size of the fresh issue from a previously planned Rs 2,600 crore as stated in its updated draft red herring prospectus (UDRHP) filed in August. The OFS portion has also increased by 49% from the earlier proposal of 9.68 crore shares.
Sales by Promoters and Investors
Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan are set to sell 1.42 crore shares each, whereas the promoter group entity Creovate Innovation will sell a maximum of 2.30 crore shares. Among current investors, Lightspeed Venture Partners plans to offload 2.51 crore shares, while Peak XV Partners will sell 2.34 crore shares. Accel India V is also expected to sell up to 1.2 crore shares.
Utilisation of Funds Raised
Zetwerk intends to allocate Rs 1,300 crore from the fresh issue for the repayment or prepayment of company-level borrowings. Additionally, Rs 860 crore will be directed towards debt repayment across nine subsidiaries. The remaining funds will be used for acquisitions, strategic investments, and general corporate needs.
Company Background and Financial Performance
Founded in 2017, Zetwerk runs a technology-enabled manufacturing platform that connects businesses with manufacturers and suppliers across various sectors, including electronics, energy, aerospace, defence, and industrial automation. Financially, Zetwerk’s revenue from continuing operations increased to Rs 15,913 crore in FY26, up from Rs 11,332 crore in FY25. In Q1 FY27, revenue from operations surged 55% year-on-year to Rs 4,118 crore, while losses from continuing operations decreased to Rs 64 crore, down from Rs 881 crore in the previous year.