Zetwerk sets ₹143–₹151 IPO price band for ₹5,012 crore issue

B2B manufacturing company Zetwerk has set a price band of ₹143-₹151 per share for its IPO, which will be worth…

Mumbai: Zetwerk Manufacturing Business has fixed a price band of ₹143–151 per share for its ₹5,012 crore initial public offering, which opens on October 15. The technology-led manufacturing platform’s issue will close on October 19, with anchor investor bidding scheduled for October 14.The shares are proposed to list on the BSE and NSE on October 23, according to the company’s public announcement.Fresh Issue And Offer For SaleThe IPO combines a ₹2,830 crore fresh issue with an offer for sale of 14.45 crore shares by existing shareholders.Tonbo Imaging Sets ₹665–700 IPO Price Band, ₹852 Crore Share Sale Opens October 15 At the upper price of ₹151, the OFS is valued at approximately ₹2,182 crore, taking the offer to around ₹5,012 crore.Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan, along with promoter group entity Creovate Innovation, will sell shares. Peak XV, Accel, Lightspeed and Kae Capital are also participating sellers.Debt Repayment And Acquisitions PlannedZetwerk intends to use fresh issue proceeds to repay borrowings of the company and its subsidiaries.Funds will support unidentified acquisitions and general corporate purposes. The fresh issue will provide capital to the business, while the OFS involves existing shareholders selling their holdings.Manufacturing Across Multiple SectorsFounded in 2018, Zetwerk operates across renewable energy, electronics, aerospace, defence, artificial intelligence infrastructure, oil and gas, and industrial automation.Its founders include Acharya, Ramakkrushnan, Vishal Chaudhary, Ankit Fatehpuria and Rahul Sharma.The company owns 26 manufacturing facilities across India, the United States, Germany and Spain, supplemented by third-party suppliers in multiple countries.AI, Automation, Robotics to Drive India’s Next Manufacturing Push: CII Its customers include Siemens Gamesa, Acer India, CG Power, NTPC Renewable Energy, DRDO, the Indian Air Force and Numaligarh Refinery.Business Realignment And Issue ManagersZetwerk operates a Manufacturing Business and an Ecosystem Business branded Terra91. It discontinued civil infrastructure operations in FY26 as part of its strategic realignment.Kotak Mahindra Capital, Morgan Stanley, Goldman Sachs, Avendus, JM Financial, HSBC and Pantomath are the book-running lead managers.KFin Technologies is the registrar for the public offering.

Bengaluru-based manufacturing platform Zetwerk is preparing to launch its initial public offering (IPO) as early as next week, potentially raising up to $525 million, Bloomberg reported.The company is reportedly seeking a valuation of approximately ₹27,000 crore ($2.8 billion) and has already held discussions with prospective investors.According to the report, the share sale could open on Oct 15, with a stock market listing targeted for Oct 23.However, the proposed timetable and fundraising amount remain subject to change.Sebi Clears IPO Plans Of Zetwerk, Marri Retail, Tonbo Imaging And Gujarat Victory Forgings IPO to include fresh issue Zetwerk confidentially filed its IPO documents in March and secured regulatory approval in July.According to its prospectus, the offering will include a fresh issue of shares worth ₹2,600 crore and an offer for sale of up to 96.84 million shares by existing investors.The fresh issue would raise capital for the company, while proceeds from the secondary sale would go to participating shareholders.Investment banks managing the offering include Kotak Mahindra Capital, JM Financial Services, Avendus Capital and Pantomath Capital Advisors.The Indian operations of HSBC, Morgan Stanley and Goldman Sachs are also involved.As per the report, discussions were continuing and that the final IPO structure, size and dates could be revised. Listing amid strong Indian IPO marketThe proposed offering comes amid continued fundraising activity in India's primary equity market.Companies have raised approximately $14 billion through IPOs this year, following a record $22 billion in 2025, according to Bloomberg data.Zetwerk operates a manufacturing platform serving industries such as utilities, renewable energy, consumer electronics and artificial intelligence infrastructure.The company has 26 manufacturing facilities across India, the United States, Spain and Germany.Its international manufacturing presence and exposure to multiple industrial sectors form part of its business profile as it prepares to enter the public markets.If the proposed schedule proceeds, Zetwerk would become another major Indian manufacturing business seeking investor participation through a domestic stock market listing.

Zetwerk Pvt., an Indian manufacturing platform, is preparing to launch an initial public offering as early as next week that may raise as much as $525 million, according to people familiar with the matter.