Zetwerk IPO to Open on October 15 With Price Band of ₹143 to ₹151
- 12th October 2026
- 11:00 AM
- 5 min read
Summary
Zetwerk Manufacturing Business Ltd. will open its ₹5,012.33 crore initial public offering (IPO) for subscription on 15 October 2026, with a price band of ₹143 to ₹151 per share. The issue closes on 19 October, and the shares are expected to list on BSE and the National Stock Exchange (NSE) on 23 October. The company is seeking a valuation of ₹25,583 crore.Mumbai | 12 October 2026
Zetwerk is a technology-led manufacturing platform that connects companies with a network of manufacturing partners. The company, backed by Peak XV Partners and Accel India, is seeking a valuation of ₹25,583 crore ($2.64 billion) in its IPO, a company filing showed. Anchor investors can bid on 14 October.
What Are the Zetwerk IPO Price Band and Issue Size?
The IPO has a price band of ₹143 to ₹151 per share and a total size of up to ₹5,012.33 crore ($518 million). It combines a fresh issue worth up to ₹2,830 crore with an offer for sale (OFS) of up to ₹2,182.33 crore. Existing shareholders sell their shares through the OFS.
| Detail | Information |
| Price band | ₹143 to ₹151 per share |
| Face value | ₹1 per share |
| Total issue size | 33,20,07,155 shares (up to ₹5,012.33 crore) |
| Fresh issue | 18,74,82,119 shares (up to ₹2,830 crore) |
| Offer for sale | 14,45,25,036 shares (up to ₹2,182.33 crore) |
| Shares before the issue | 1,50,67,72,659 |
| Shares after the issue | 1,69,42,54,778 |
| Employee discount | ₹14 per share |
| Listing | BSE, NSE |
| Registrar | KFin Technologies Ltd. |
Seven book running lead managers are handling the issue. They are Kotak Mahindra Capital Co. Ltd., Morgan Stanley India Co. Pvt. Ltd., Goldman Sachs (India) Securities Pvt. Ltd., Avendus Capital Pvt. Ltd., JM Financial Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd. and Pantomath Capital Advisors Pvt. Ltd.
What Is the Zetwerk IPO Lot Size?
Investors can bid for a minimum of 99 shares and in multiples of 99 after that. At the upper price band, a retail investor needs at least ₹14,949 to apply.
| Investor type | Lots | Shares | Amount |
| Retail (minimum) | 1 | 99 | ₹14,949 |
| Retail (maximum) | 13 | 1,287 | ₹1,94,337 |
| Small high net worth individual (minimum) | 14 | 1,386 | ₹2,09,286 |
| Small high net worth individual (maximum) | 66 | 6,534 | ₹9,86,634 |
| Big high net worth individual (minimum) | 67 | 6,633 | ₹10,01,583 |
How Is the Zetwerk IPO Split Between Investors?
The net offer is split across three investor groups.
- Qualified institutional buyers (QIBs) will get not less than 75%.
- Retail investors can receive not more than 10%.
- Non-institutional investors (NIIs) can receive not more than 15%.
Employees can apply for up to ₹5 lakh under a separate employee quota, at a discount of ₹14 per share.
Who Is Selling Shares in the Zetwerk IPO?
Promoters Amrit Pratik Acharya, Srinath Ramakkrushnan and Creovate Innovation are together selling 51.4 million shares. Early investors Peak XV Partners, Lightspeed Venture Partners and Accel India are among the other selling shareholders.
| Selling shareholder | Shares offered | Amount (₹ crore) |
| Amrit Pratik Acharya | 1,42,30,672 | 214.88 |
| Srinath Ramakkrushnan | 1,42,30,672 | 214.88 |
| Creovate Innovation Pvt. Ltd. | 2,29,74,820 | 346.92 |
| Peak XV Partners Investments V | 1,76,11,820 | 265.94 |
| Lightspeed Venture Partners Select IV Mauritius | 1,35,29,722 | 204.30 |
The promoter and promoter group’s holding will fall from 15.86% before the IPO to 11.36% after it.
What Will Zetwerk Do With the IPO Proceeds?
Zetwerk plans to use the net proceeds from the fresh issue in three ways.
| Purpose | Estimated amount (₹ crore) |
| Repaying or prepaying certain borrowings of the company | 1,300.00 |
| Funding growth through acquisitions not yet identified | Not stated |
| General corporate purposes | Not stated |
What Does Zetwerk Do?
Zetwerk was incorporated in 2017. It runs a managed marketplace that links industrial and consumer companies with manufacturing partners for custom and large-scale production. Its offering covers design, supplier matching, quality control and logistics. Its platform, Zetwerk OS, tracks each stage of manufacturing in real time.
- Sectors: It serves electronics, renewable energy, aerospace and defence, capital goods and precision manufacturing.
- Reach: It is present in over 25 countries, with a network of 10,000+ suppliers. It runs 20+ manufacturing facilities across India, the United States and Mexico.
- Customers: In financial year 2026, Zetwerk had 1,802 customers, with 1,613 in India and 189 outside India. They include Siemens Gamesa, Acer India, the Indian Air Force and NTPC Renewable Energy.
How Has Zetwerk Performed Financially?
In the April to June 2026 quarter, Zetwerk’s revenue from operations rose more than 55% from a year earlier to ₹4,118 crore.
Its full-year restated consolidated figures are shown below in ₹ crore. FY2026 refers to the financial year ended 31 March 2026.
| Metric | FY2024 | FY2025 | FY2026 |
| Total income | 12,523.46 | 11,492.23 | 16,100.63 |
| Profit after tax | -917.95 | -370.71 | -1,606.17 |
| Net worth | 4,062.46 | 4,453.76 | 4,813.72 |
| Total borrowing | 1,232.10 | 1,746.55 | 1,936.16 |
What Are the Important Dates of the Zetwerk IPO?
The tentative timetable is as follows.
| Event | Date |
| Anchor investor bidding | 14 October 2026 |
| IPO opens | 15 October 2026 |
| IPO closes | 19 October 2026 |
| Allotment | 21 October 2026 |
| Refunds | 22 October 2026 |
| Credit of shares to demat accounts | 22 October 2026 |
| Expected listing | 23 October 2026 |
Outlook
The IPO arrives during a busy period for India’s primary market. More than 230 companies have raised $12.65 billion in India this year as of 7 October. That is 8.3% more than in the same period last year.
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