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Zetwerk IPO Fully Subscribed, Investor Demand Surpasses Offer
19 Oct
Summary
- Zetwerk's IPO was subscribed 3.06 times, attracting bids for 56.54 crore shares.
- The IPO saw strong demand from QIBs (4.73X) and NIIs (1.4X), retail demand was lower.
- Company plans to use fresh proceeds for debt repayment and strategic investments.
Zetwerk's initial public offering, which opened from October 15 to October 19, was oversubscribed by 3.06 times. Investors sought 56.54 crore shares, exceeding the 18.50 crore shares available on offer. The Qualified Institutional Buyers segment saw a subscription of 4.73 times, indicating strong institutional confidence.
The issue comprised a fresh issuance of shares valued at Rs 2,830 crore, alongside an offer for sale by existing shareholders totaling Rs 2,182 crore. Zetwerk plans to utilize a portion of these funds for debt reduction, with the remainder allocated to acquisitions and strategic investments.
Ahead of the public offering, Zetwerk successfully raised Rs 2,251.23 crore from anchor investors, including prominent global and domestic financial institutions. This indicates substantial backing from the investment community prior to the IPO's launch.
