Zetwerk's initial public offering (IPO) will open on October 15, 2026, offering investors a chance to buy shares in the company. The IPO includes a fresh issue of shares worth ₹2,830 crore and an Offer for Sale (OFS) of 14.45 crore equity shares by existing shareholders. The total issue size is approximately ₹5,012 crore. The shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 23.
- The IPO opens on October 15 and closes on October 19, 2026.
- The price band is set with an upper limit of ₹151 per share.
- Fresh issue proceeds will be used to repay debt and for acquisitions.
- Zetwerk operates in sectors like renewable energy, aerospace, defence, and industrial automation.
- The company has manufacturing facilities in India, the US, Germany, and Spain.
What is included in Zetwerk's IPO?
The IPO consists of two parts: a fresh issue and an Offer for Sale (OFS). The fresh issue is worth ₹2,830 crore, which means the company is issuing new shares to raise capital. The OFS involves existing shareholders selling 14.45 crore equity shares. At the upper price band of ₹151 per share, the OFS is valued at ₹2,182 crore. Together, these make the total IPO size about ₹5,012 crore.
Who are the key shareholders selling shares in the OFS?
Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan, along with Creovate Innovation (a promoter group entity), are selling shares in the OFS. Other selling shareholders include investors such as Peak XV, Accel, Lightspeed, and Kae Capital.
How will Zetwerk use the funds raised from the IPO?
Zetwerk plans to use the proceeds from the fresh issue to repay debt for the company and its subsidiaries. Additionally, the funds will be used for potential acquisitions and general corporate purposes, although specific acquisitions have not been identified yet.
What is Zetwerk's business and history?
Founded in 2018 by Amrit Pratik Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, Ankit Fatehpuria, and Rahul Sharma, Zetwerk is a tech-led manufacturing platform. The company operates in various sectors including renewable energy, electronics, aerospace, defence, artificial intelligence infrastructure, oil and gas, and industrial automation.
Zetwerk has 26 owned manufacturing facilities located across India, the United States, Germany, and Spain. It also collaborates with third-party suppliers in multiple countries. Its customers include major companies and organizations such as Siemens Gamesa, Acer India, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, DRDO, the Indian Air Force, and Numaligarh Refinery Ltd.
What are Zetwerk's main business segments?
The company operates two key businesses: the manufacturing business and the ecosystem business, branded as Terra91. In fiscal year 2026, Zetwerk discontinued its civil infrastructure business as part of a strategic realignment.
Who are the lead managers and registrar for the IPO?
The book-running lead managers for the issue include Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities, Avendus Capital, JM Financial, HSBC Securities and Capital Markets (India) Pvt Ltd, and Pantomath Capital Advisors. KFin Technologies is appointed as the registrar for the IPO.
