Zetwerk shares list at over 5% premium in stock market debut

Bengaluru-based Zetwerk Manufacturing Businesses made a positive debut on the stock exchanges on Friday, with its shares listing at a 5.5% premium over the IPO price.

According to exchange data, the company shares opened at Rs 159.25 on the National Stock Exchange (NSE), compared with the issue price of Rs 151 per share.

On the final day of the IPO, the qualified institutional buyers (QIBs) portion received the highest demand, with 4.73X subscription, followed by the non-institutional investors (NIIs) category at 1.4X. The employee quota was subscribed 1.58X, while the retail portion saw weaker demand at 0.72X.

Ahead of the IPO, Zetwerk raised Rs 2,251 crore from anchor investors, including global investors such as Capital Group, BlackRock, Goldman Sachs and Nomura, alongside domestic investors such as SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund.

According to its RHP, the issue comprises a fresh issue of shares worth Rs 2,830 crore and an offer for sale (OFS) of up to 14.45 crore shares worth Rs 2,182 crore by existing shareholders.

The company plans to use a portion of the fresh issue proceeds to repay debt, with the remaining funds earmarked for acquisitions, strategic investments and general corporate purposes.

On the financial front, Zetwerk’s revenue from continuing operations grew 40.4% to Rs 15,913 crore in FY26 from Rs 11,332 crore in FY25. In Q1 FY27, revenue from operations rose 55% year-on-year to Rs 4,118 crore, while losses from continuing operations narrowed 93% to Rs 64 crore from Rs 881 crore in the year-ago period.

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