Zetwerk, the Bengaluru based manufacturing platform, has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), as confirmed by informed sources. This anticipated IPO will feature a combination of new share issues and an offer for sale from existing investors. The ultimate size and valuation of the issue will be finalised through a book-building procedure.
Established in 2018 by Amrit Acharya and Srinath Ramakkrushnan, Zetwerk functions as a technology-oriented manufacturing platform that links industrial clients with a wide array of suppliers and manufacturing facilities. The organisation caters to various industries, such as energy, electronics, defence, aerospace, capital goods, industrial supplies, and raw materials.
Zetwerk’s proprietary software platform, Zetwerk OS, is utilised for managing sourcing, production planning, supplier coordination, and project execution throughout its extensive manufacturing network.
The company has grown through a combination of owned manufacturing facilities and a worldwide third-party supplier network. Zetwerk has also benefitted from the rising demand in manufacturing, driven by supply chain diversification from China, investments in infrastructure and data centres, the transition towards new energy solutions, and India’s commitment to enhancing domestic manufacturing capabilities.
Zetwerk enjoys backing from notable investors, including Khosla Ventures, Baillie Gifford, Rakesh Gangwal, Accel, Peak XV, GreenOak, and Lightspeed. Startup Superb has approached Zetwerk for further comments. The article will be updated upon receiving a response from the company.