IPO
B2B platform for custom manufacturing Zetwerk plans Rs.2,600-Cr fresh issue
Bengaluru-based Zetwerk has filed an updated draft red herring prospectus (UDRHP) for an initial public offering (IPO), through which it plans to raise INR 2,600 crore in a fresh issue of shares. The offering will also include an offer for sale (OFS) of about 96.84 million shares by promoters and early investors.Founded as an asset-light manufacturing marketplace, the company has transitioned to a model that includes owning manufacturing capacity. In fiscal year 2026, the company reported a revenue of INR 15,900 crore and an order book of INR 12,300 crore. It plans to use about INR 1,800 crore of the fresh proceeds for debt repayment, while the remainder will be allocated for acquisitions.
Between Aug 2018 and Apr 2026, Zetwerk had attracted about USD 947-M from Avenir Growth, Baillie Gifford, Greenoaks Capital, Khosla Ventures, Edelweiss Private Equity, and others.
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