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Contract manufacturer Zetwerk files updated papers to raise Rs.2,600-Cr

Business Standard   Zetwerk  

Bengaluru-based Zetwerk Manufacturing Businesses has filed updated papers for an initial public offering to raise INR 2,600 crore (USD 272.47 million) in fresh capital. The IPO also includes an offer for sale of 96.8 million shares by existing investors.The company is a contract manufacturer that operates more than 20 manufacturing facilities and serves 1,100 customers across sectors including electronics, energy, capital goods, aerospace, and defence. The firm plans to use INR 1,800 crore from the proceeds to repay debt, with the remaining capital allocated for potential acquisitions.Zetwerk’s customer base features companies such as Schneider Electric, Indian Oil, Siemens, and Acer. In the 2026 fiscal year, the company reported revenue of INR 15,913 crore and a pre-tax loss of INR 916 crore.

Between Aug 2018 and Apr 2026, Zetwerk had attracted about $947-M from 360 ONE, D1 Capital Partners, Greenoaks Capital, Lightspeed Ventures, Steadview Capital, Others.For FY25, Zetwerk had reported about INR 8,540 Cr in Operating Income and about INR 83 Cr in Net Loss.