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Zetwerk IPO: Rs 2,830 Crore Boost for Manufacturing Giant
11 Oct
Summary
- Zetwerk's IPO aims for a Rs 2,830 crore fresh issue, increasing its size.
- The offer for sale has significantly increased to 14.45 crore shares.
- Proceeds will fund debt repayment and strategic acquisitions.
Manufacturing platform Zetwerk has filed its Red Herring Prospectus for an Initial Public Offering (IPO), seeking to raise Rs 2,830 crore through a fresh issue of shares. This revised amount represents an increase from earlier projections.
The company has also boosted its Offer for Sale (OFS) component significantly, offering 14.45 crore shares. This includes shares from its promoters, Amrit Pratik Acharya and Srinath Ramakkrushnan, as well as from existing investors like Lightspeed Venture Partners and Peak XV Partners.
Zetwerk intends to allocate Rs 1,300 crore from the fresh issue towards repaying company-level borrowings. Another Rs 860 crore will be used to service debt across nine of its subsidiaries. The balance funds are designated for acquisitions, strategic investments, and general corporate needs.
Founded in 2017, Zetwerk connects businesses with manufacturers and suppliers across diverse sectors. The company reported revenue growth, with Rs 15,913 crore in FY26. Notably, its losses from continuing operations saw a substantial decline in Q1 FY27.
