On October 12, Zetwerk Manufacturing Business — the Bengaluru-headquartered platform co-founded by Amrit Pratik Acharya and Srinath Ramakkrushnan that deploys technology across industrial and consumer goods production worldwide — announced a price band of Rs 143 to Rs 151 per share for its first-ever public offering. A public offering structured to raise Rs 5,012.3 crore forms the centrepiece of the fundraising plan, with the company's valuation placed at Rs 25,583.2 crore when measured against the top of the stated price band. Structured as a two-part share sale — a fresh issuance valued at Rs 2,830 crore alongside an offer-for-sale covering 14.45 crore equity shares priced at Rs 2,182.3 crore — the IPO is set to accept public subscriptions between October 15 and October 19. On October 14, the anchor book will be made available for public viewing for a single day. Backed by Peak XV Partners, Accel India, and Lightspeed Venture Partners, Zetwerk is on course to wrap up IPO share allotment by October 21, with its stock set to begin trading on the exchanges two days later, on October 23. Among the parties lined up to divest shares through the offer-for-sale are Peak XV Partners, Lightspeed Venture Partners, Kae Capital Fund, Accel India, Kalysta Capital Fund, and Creovate Innovation, with the two promoters also included in that group of selling shareholders. Of the net issue size — with the 7-lakh-share employee reserved portion set aside — three-quarters goes to qualified institutional buyers, while non-institutional investors receive a 15 percent slice and retail participants take the remaining tenth. A discounted allocation of 7 lakh shares — priced Rs 14 below the final offer — is set to be distributed among qualifying staff members. Each lot put forward for purchase carries a floor of 99 equity shares, with any additional quantity required to land on a further multiple of that same 99-share unit. Retail participants face a floor entry of Rs 14,949 per application, with the upper ceiling for individual participation capped at Rs 1,94,337. Drawing on both its own production sites and a network of third-party manufacturers unified through the proprietary Zetwerk OS platform, the company extends its reach across sectors ranging from utilities, renewable energy, and consumer electronics to artificial intelligence infrastructure, aerospace, space and defence, oil and gas, and industrial automation. A portion of the fresh-issue proceeds — specifically Rs 2,160 crore — has been earmarked to retire borrowings held by the company and select subsidiaries. A portion of the funds will go toward expansion through acquisitions — targets for which have yet to be identified — along with broader operational needs. For the April-to-June 2026 period, Zetwerk recorded a net loss of Rs 732.9 crore, a figure that came in well below the Rs 1,368.4 crore deficit reported across the corresponding stretch of the preceding year. Compared with Rs 2,649.4 crore in the prior period, the company's top line climbed to Rs 4,117.9 crore, a gain of 55.4 percent on a year-on-year basis. A net loss of Rs 1,606.1 crore was recorded by the company for the fiscal year that closed in March 2026, against a deficit of Rs 370.7 crore in the year before. Turnover for the matching period climbed 40.4 percent, reaching Rs 15,913.3 crore against the Rs 11,331.9 crore recorded previously. Seven investment banks and advisory houses — Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, Avendus Capital, JM Financial, HSBC Securities and Capital Markets (India), and Pantomath Capital Advisors — have been appointed to manage the book-running process for the Zetwerk Manufacturing Business IPO.
