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Zetwerk Manufacturing Businesses Limited IPO
Technology-Led Global Manufacturing · Managed Marketplace · Zetwerk OS · Bengaluru, Karnataka
📋 Mainline IPO
Fresh + OFS
BSE, NSE
₹151
Upper Price
₹5,012.33 Cr
Issue Size
Oct 23, 2026
Listing Date
₹25,583.25 Cr
Market Cap
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Thursday, 15 October 2026
Bidding starts — apply before close
🔒
IPO Closes
Monday, 19 October 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 21 October 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Thursday, 22 October 2026
Unallotted funds unblocked; shares credited to demat
🏷️
Friday, 23 October 2026
Trading begins on BSE & NSE from 10:00 AM IST
📋 IPO Details
IPO Open Date15 October 2026 (Thu)
IPO Close Date19 October 2026 (Mon)
Listing Date23 October 2026 (Fri)
Face Value₹1 per share
Price Band₹143 to ₹151
Issue Price (Upper Band)₹151 per share
Issue TypeBook Build — Fresh + OFS
Lot Size99 shares (Min App: 1 Lot / 99 Shares)
Total Issue Size33,20,07,155 shares (₹5,012.33 Cr)
Fresh Issue18,74,82,119 shares (₹2,830.00 Cr)
Offer for Sale (OFS)14,45,25,036 shares (₹2,182.33 Cr)
Employee Discount₹14.00 per share
Pre-Issue Shares1,50,67,72,659
Post-Issue Shares1,69,42,54,778
Promoter Holding (Pre → Post)15.86% → 11.36%
Market Cap (Pre-IPO)₹22,752.27 Cr
Market Cap (Post-IPO)₹25,583.25 Cr
Listing ExchangeBSE, NSE
Lead ManagersKotak, Morgan Stanley, Goldman Sachs, Avendus, JM Financial, HSBC, Pantomath
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹151| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 99 | ₹14,949 |
| Retail — Maximum | 13 | 1,287 | ₹1,94,337 |
| S-HNI (sNII) — Min | 14 | 1,386 | ₹2,09,286 |
| S-HNI (sNII) — Max | 66 | 6,534 | ₹9,86,634 |
| B-HNI (bNII) — Min | 67 | 6,633 | ₹10,01,583 |
⚠️ Note: Investors can bid for a minimum of 99 shares and in multiples thereof. Eligible employees receive a dedicated discount of ₹14.00 per equity share.
👥 Investor Reservation
Allocated portion of Net OfferNot less than 75%
QIB Portion
Not more than 15%
NII Portion
Not more than 10%
Retail Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Total Assets | 12,016.09 | 13,384.63 | 10,355.43 | 10,330.85 |
| Total Income | 4,195.70 | 16,100.63 | 11,492.23 | 12,523.46 |
| PAT | -732.98 | -1,606.17 | -370.71 | -917.95 |
| EBITDA (Adj.) | 103.16 | 421.34 | 322.59 | 97.03 |
| Net Worth | 4,094.13 | 4,813.72 | 4,453.76 | 4,062.46 |
| Reserves & Surplus | -771.23 | -15.96 | 4,355.22 | 4,025.00 |
| Total Borrowing | 1,942.19 | 1,936.16 | 1,746.55 | 1,232.10 |
Income Growth
FY 2023–24₹12,523.46 Cr
FY 2024–25₹11,492.23 Cr
FY 2025–26₹16,100.63 Cr
🎯 Key Performance Indicators
-21.11%
RoNW (Mar 26)
-1.74% (Jun 26)
4.83x
Price/Book
At upper price ₹151
₹31.26
NAV (Mar 26)
₹25.85 (Jun 26)
10,000+
Supplier Base
Across 25+ Countries
⚖️ Valuation & EPS
Pre-IPO EPS
-₹10.66
FY26 earnings + pre-issue shares
P/E: NegativePost-IPO EPS
Negative
FY26 earnings + post-issue shares
P/E: NegativePrice to Book Value
4.83x
At upper price band ₹151
Market Cap
₹25,583.25 Cr
At upper offer price ₹151
ℹ️
Pre-IPO EPS is negative at -₹10.66 based on pre-issue shares of 1,50,67,72,659 and restated FY26 loss of -₹1,606.17 Cr, rendering the P/E ratio not meaningful (negative). The post-issue equity expands to 1,69,42,54,778 shares via 18,74,82,119 fresh shares, leading to a post-issue market capitalisation of ₹25,583.25 Cr at the upper band price of ₹151.
🎯 Objects of the Issue
Net fresh proceeds utilisation1
Repayment/prepayment, in part or full, of certain of or all of borrowings availed by the company
₹1,300.00 Cr
2
Repayment/prepayment, in part or full, of certain of or all of borrowings availed (Tranche II)
₹860.00 Cr
3
Funding inorganic growth through unidentified acquisitions, strategic acquisitions and General Corporate Purposes
Balance
Total Fresh Issue Goal
₹2,830.00 Cr
🏢 About Zetwerk Manufacturing Businesses Ltd.
Est. 2017 · Bengaluru, Karnataka · Technology-Led Global Managed Manufacturing PlatformZetwerk Manufacturing Businesses Limited, incorporated in 2017, is a technology-driven global manufacturing platform operating as a managed B2B marketplace. The company connects global industrial and consumer enterprises with an expansive, verified network of manufacturing partners for customized components and large-scale industrial contract manufacturing.
The business operates an asset-light, tech-first framework powered by its proprietary operating system, Zetwerk OS, delivering end-to-end visibility across design, supplier matching, quality inspection, production tracking, and cross-border logistics. It caters to high-growth industries including renewable energy (solar & wind), consumer electronics, aerospace, space & defence, AI hardware infrastructure, oil & gas, capital goods, and industrial automation. As of Fiscal 2026, Zetwerk serviced 1,802 clients across 25+ countries (including 22 Fortune 500 companies), leveraging a global ecosystem of over 10,000 vetted supplier partners and 20+ specialized production facilities situated across India, the United States, and Mexico.
Brand Ecosystem
💻
Zetwerk OS Tech Stack
Proprietary digital platform automating supplier allocation, production workflow, QA inspection, and global delivery.
⚡
Renewables & Electronics
Turnkey contract manufacturing for solar modules, wind components, precision consumer electronics, and AI hardware.
🚀
Aerospace & Defence
High-precision fabrication and engineered components compliant with rigorous aerospace and space defence certifications.
🌎
Global Production Hubs
Operating in 25+ countries with 10,000+ manufacturing partners and 20+ plants across India, USA, and Mexico.
Competitive Strengths
🏆Asset-light, scalable business model capable of serving diverse industrial demand across economic cycles.
🧠Zetwerk OS technology enabling real-time workflow transparency and self-reinforcing network effects.
🤝Sticky relationships with marquee enterprise clients including Fortune 500 corporations.
📈Massive revenue expansion, surging 40% in FY26 to reach ₹16,100.63 Cr with adjusted EBITDA of ₹421.34 Cr.
Company Promoters
AA
Amrit Pratik Acharya
Co-Founder & Promoter, Zetwerk Manufacturing Businesses Ltd.
SR
Srinath Ramakkrushnan
Co-Founder & Promoter, Zetwerk Manufacturing Businesses Ltd.
Key Selling Shareholders (OFS)
Creovate Innovation Pvt.Ltd.2,29,74,820 Shares (₹346.92 Cr)
Peak XV Partners Investments V1,76,11,820 Shares (₹265.94 Cr)
Amrit Pratik Acharya1,42,30,672 Shares (₹214.88 Cr)
Srinath Ramakkrushnan1,42,30,672 Shares (₹214.88 Cr)
Lightspeed Venture Partners Select IV1,35,29,722 Shares (₹204.30 Cr)
📅 Key Dates
IPO Opens15 Oct 2026
IPO Closes19 Oct 2026
Allotment21 Oct 2026
Refund & Share Credit22 Oct 2026
Listing Day23 Oct 2026
💡 Quick Summary
Price Band₹143 – ₹151
Upper Price₹151 / share
Lot Size99 shares
Min. Investment (Retail)₹14,949 (1 Lot)
Issue Size₹5,012.33 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Managers
Kotak Mahindra, Morgan Stanley,
Goldman Sachs, Avendus, JM Financial
Goldman Sachs, Avendus, JM Financial
📍 Registered Address
Zetwerk Manufacturing Businesses Ltd.
84/1, Vaishnavi Sovereign, Ground & 1st Floor,
Green Glen Layout, Bellandur,
Bangalore Urban, Karnataka — 560103
📞 +91 7624 9748 90
[email protected]
84/1, Vaishnavi Sovereign, Ground & 1st Floor,
Green Glen Layout, Bellandur,
Bangalore Urban, Karnataka — 560103
📞 +91 7624 9748 90
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the Zetwerk Manufacturing Businesses IPO RHP for informational purposes only. This format is generated adhering to the required structure as specified in the IPO NEW FORMAT source file. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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