Zetwerk Manufacturing Business Limited has received approval from the Securities and Exchange Board of India (SEBI) to conduct its planned Initial Public Offering (IPO), marking a significant regulatory milestone on its path to the stock market.
Zetwerk Manufacturing Business Limited has received approval from the Securities and Exchange Board of India (SEBI) to conduct its planned Initial Public Offering (IPO), marking a significant regulatory milestone on its path to the stock market.
According to the SEBI status report dated July 10, observations were issued regarding Zetwerk's preliminary draft prospectus during the week of July 9. The confidential pre-filing mechanism allows companies to receive feedback from the regulator before public disclosure of detailed placement documents, giving them greater flexibility in determining listing timelines.
The proposed IPO will include both a new equity issuance and a sale offering from existing shareholders. However, the final size of the offering and the valuation will be determined during the book-building process.
The company's investors include Khosla Ventures, Baillie Gifford, Accel, Peak XV, GreenOak, Lightspeed, as well as IndiGo co-founder Rakesh Gangwal. Founded in 2018 by Amrit Acharya and Srinatham Ramakrishnan, Zetwerk created a technology manufacturing platform. This platform connects industrial clients with a distributed network of manufacturing partners and its own production capacities, optimizing supply chains and large-scale manufacturing.
The company serves sectors such as energy, electronics, aerospace, defense, capital goods, and industrial commodities. To manage resource sourcing, production planning, supplier coordination, and project execution, Zetwerk utilizes its proprietary Zetwerk OS software platform. Zetwerk has expanded its model beyond the initial marketplace and now owns manufacturing assets. According to the company, it serves over 1100 clients in 19 countries through more than 5400 third-party suppliers and over 20 manufacturing facilities in four countries.
In February, Union Minister for Electronics and Information Technology Ashwini Vaishnaw inaugurated the Zetwerk Electronics manufacturing facility in Bengaluru for producing products in the defense, automotive, and IT equipment sectors. Zetwerk's progress comes amid an active, albeit more selective, IPO market, which has also seen the entry of companies like Razorpay, National Stock Exchange, and Jio Platforms, all of whom utilized the confidential filing route.
The film 'Satluj', which was released on the ZEE5 India platform just two days ago, has been removed from the service. However, users have not stopped watching, and complete pirated copies of the movie have appeared on social media.
In this regard, ZEE5 appealed to its audience, asking them not to support piracy and to try to get the film back. Meanwhile, the lead actor Diljit Dosanjh took a different stance, urging people to share the film with others.
Following the distribution of pirated versions of 'Satluj' on social networks, including X (formerly Twitter), ZEE5 published an official statement on Monday, July 6th. Users actively distributed downloaded versions, while others demanded links and various file formats in the comments. The platform asked viewers to refrain from watching or sharing pirated copies, stating: 'We hope and are making every possible effort. Please do not support piracy. We are striving to find all possible ways to bring 'Satluj' back to you.'
ZEE5 also shared a poster with the message: 'We are trying to bring 'Satluj' back from our side. Please try to do so too, without supporting piracy.'
ZEE5's statement came several hours after Diljit Dosanjh appeared live on Instagram. During the broadcast, he expressed relief that the film eventually reached the viewers, even if only for a short time. He noted his joy that many had already watched and downloaded the movie.
Dosanjh emphasized that completely deleting anything from the internet is practically impossible. He stated that the film now belongs to the viewers. 'So I am very happy that the film is finally with you. Now it is your film, it cannot be stopped. It is a people's film, you cannot stop it,' he said. He also suggested that those behind this might be naive or uninformed, believing that any content that appears online can simply be deleted.
It should be noted that 'Satluj' began streaming on ZEE5 India on July 3rd but was removed just two days later. The version released on the platform was complete and approved by Jaswant Singh Haldy's family.
The film 'Satluj' is directed by Hani Trehan and is based on the life of human rights activist Jaswant Singh Haldy. It tells the story of Haldy's struggle during the period of extremism in Punjab in the 1980s and 1990s, when thousands of young Sikhs went missing. By checking cemetery records across the state, Haldy discovered evidence of illegal burials and fake shootouts, drawing global attention to the issue. In addition to Diljit Dosanjh, Arjun Rampal, Kanwaljit Singh, Suvinder Vicky, Hittika Vidya Olyaan, and Varun Badola also starred in the film.
