Zetwerk IPO

Zetwerk Manufacturing Businesses IPO is set to enter the Indian primary market on October 15, 2026, and will remain open for subscription until October 19, 2026. The mainboard IPO comprises a fresh issue of equity shares worth up to ?2,830 crore and an Offer for Sale (OFS) of 14.45 crore equity shares worth approximately ?2,182.33 crore, taking the total issue size to around ?5,012.33 crore. The face value is ?1 per share, with a price band of ?143 to ?151 per share. The shares are proposed to be listed on the BSE and NSE.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, and Pantomath Capital Advisors Private Limited are managing the issue, while KFin Technologies Limited is the registrar. The selling shareholders include the company's promoters and existing investors, including Peak XV Partners, Lightspeed Venture Partners, Kae Capital Fund, Accel India, Kalysta Capital Fund and Creovate Innovation.

The proceeds from the fresh issue will be used primarily to repay borrowings of the company and certain subsidiaries, with the remaining amount allocated towards inorganic growth opportunities, including acquisitions, and general corporate purposes. The proceeds from the OFS will go to the selling shareholders after applicable expenses and taxes.

About Zetwerk Manufacturing Business Limited

Incorporated in 2017, Zetwerk Manufacturing Business Limited is a technology-led, asset-light manufacturing platform that enables businesses to source, manufacture and deliver industrial and consumer products through an integrated manufacturing ecosystem. The Company combines its proprietary technology platform, Zetwerk OS, with its own manufacturing facilities and a network of third-party suppliers to provide customers with a scalable and digitally managed manufacturing solution. 

The company operates through two reportable business segments: Manufacturing Business and Ecosystem Business. Its Manufacturing Business comprises three key product categories, Energy Products, Precision Products and Capital Goods, serving industries such as renewable energy, utilities, consumer electronics, AI infrastructure, aerospace, defence, oil and gas, industrial automation and other industrial applications.
Through its Ecosystem Business, operated under the Terra91 brand, the company sources and supplies industrial commodities, including ferrous and non-ferrous metals and petrochemicals, to manufacturers and other participants in its ecosystem.
As of March 31, 2026, the company had 26 owned manufacturing facilities across India, Spain, Germany and the United States, supported by 6,979 third-party suppliers across 26 countries.