Zetwerk Pvt., an Indian contract manufacturer, is preparing to make a public filing for an initial public offering that could raise as much as $400 million, according to people familiar with the matter. The reports say the company is taking steps toward an IPO but do not specify a listing date.

Both outlets describe the same potential fundraising size and the same stage of the process—preparation for a public filing. Neither source provides additional details such as the exact offering structure, pricing, or the number of shares to be sold. The information is attributed to unnamed individuals familiar with Zetwerk’s plans, indicating the timeline and terms may still change before any filing is submitted or approved.