Zetwerk Manufacturing Business has fixed the price band for its initial public offering (IPO) at Rs. 143-151 per share. The Bengaluru-based manufacturing firm aims to raise Rs. 5,012.3 crore through the public issue, open for subscription on October 15 and closing on October 19, 2026.
The company is seeking a valuation of Rs. 25,583.2 crore at the upper end of the price band. The IPO comprises a fresh issue of shares worth Rs. 2,830 crore and an offer for sale (OFS) of 14.45 crore equity shares valued at approximately Rs. 2,182.3 crore.
Zetwerk IPO: Key Dates and Share Allocation
Anchor investor bidding will take place on October 14. The company is likely to finalize the share allotment on October 21, while its shares are expected to list on the BSE and NSE on October 23.
Up to 75% of the net issue, excluding the employee reservation, has been allocated to qualified institutional buyers (QIBs). Non-institutional investors have been allocated 15%, while retail investors will receive 10% of the net issue.
Eligible employees will be offered 7 lakh shares at a discount of Rs. 14 per share to the final offer price. Investors can bid for a minimum of 99 shares, with subsequent applications in multiples of 99. At the upper price band of Rs. 151, the minimum investment for retail investors will be Rs. 14,949, while the maximum will be Rs. 1,94,337.
How Zetwerk Plans to Use IPO Proceeds
Zetwerk aggregates manufacturing capacity from third-party suppliers and its own facilities through an integrated network supported by its proprietary Zetwerk OS platform. Its operations span renewable energy, consumer electronics, artificial intelligence infrastructure, aerospace, defense, oil and gas, and industrial automation.
The company plans to use Rs. 2,160 crore from the fresh issue proceeds to repay debt taken by the company and certain subsidiaries. The remaining funds will support inorganic growth opportunities, including potential acquisitions not yet identified, and general corporate purposes.
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Zetwerk Financial Performance
Zetwerk reported a net loss of Rs. 732.9 crore in the April-June 2026 quarter, compared with Rs. 1,368.4 crore in the corresponding quarter a year earlier. Revenue increased 55.4% year-on-year to Rs. 4,117.9 crore from Rs. 2,649.4 crore.
However, its net loss widened to Rs. 1,606.1 crore in the financial year ended March 2026, compared with Rs. 370.7 crore in the previous fiscal year. Revenue rose 40.4% to Rs. 15,913.3 crore from Rs. 11,331.9 crore.
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 are the book-running lead managers for the IPO.