Zetwerk, a manufacturing marketplace headquartered in Bengaluru, has determined the price range for its Initial Public Offering (IPO) at ₹143–₹151 per share, aiming for a valuation of ₹25,583 crore.
The IPO includes both a fresh issue and an Offer for Sale (OFS). The company has increased the total public offering size to ₹5,012 crore. The proportion of the fresh issue was increased from ₹2,600 crore to ₹2,830 crore, while the OFS component expanded from ₹9.68 crore to ₹14.45 crore in shares.
Early investors, including Peak XV Partners, Lightspeed Venture Partners, Accel India, and Kae Capital, have increased the number of shares they intend to sell. The proposed sale by founders remains unchanged. Lightspeed Venture Partners plans to offload 2.51 crore shares, followed by Peak XV Partners with 2.34 crore shares, and Accel India with 1.2 crore shares.
Zetwerk shareholders, Amrit Acharya and Srinath Ramakrishnana, will sell 1.42 crore shares, while the Creovate Innovation shareholder group structure will offload 2.30 crore shares.
The IPO subscription will begin on October 15 and close on October 19. The anchor investor bookmaking will open on October 14, and the shares are expected to list on stock exchanges on October 23.
Zetwerk plans to use approximately ₹2,160 crore from the fresh issue proceeds to repay debt. The remaining funds will be allocated to acquisitions, strategic investments, and general corporate purposes.
The company reported revenue of ₹15,913 crore for FY26, which is 40.4% higher than ₹11,332 crore in FY25. However, losses rose to ₹1,606.2 crore in FY26 compared to ₹370.7 crore in the previous fiscal year, largely due to a one-time write-off.
Founded in 2017, Zetwerk is a digital manufacturing marketplace that connects enterprises, manufacturers, and suppliers on a single platform. In Q1 FY27, its operating revenue grew by 55% year-on-year to ₹4,118 crore, while operating losses decreased to ₹64 crore compared to ₹881 crore in the quarter a year prior.