Zetwerk Manufacturing Businesses has set a price band of Rs 143-151 per share for its Rs 5,012 crore initial public offering, which opens for subscription on October 15, Reuters reported on October 12.
Issue details
The IPO comprises a fresh issue of Rs 2,830 crore and an offer for sale of 14.45 crore shares worth about Rs 2,182 crore. At the upper end of the band, the company is seeking a valuation of Rs 25,583 crore (about $2.7 billion). The issue closes on October 19, with the shares expected to list on the BSE and NSE on October 23. Investors can bid for a minimum of 99 shares, and anchor bidding is scheduled for October 14.
A loss-making issuer
Investors should note that Zetwerk reported a net loss in FY2026 on a restated consolidated basis, making its price-to-earnings ratio unascertainable. Its weighted average return on net worth for the last three financial years stood at a negative 15.64 per cent, according to the Economic Times. The book-running lead managers include Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs (India) Securities, Avendus Capital, JM Financial, HSBC Securities and Pantomath Capital Advisors, with KFin Technologies as registrar.
Zetwerk, a business-to-business manufacturing platform, is among the largest IPOs of the year and will test investor appetite for loss-making new-age companies.
Sources:
India's Zetwerk sets price band of 143-151 rupees per share for $518 million IPO — Reuters
Zetwerk sets IPO price band at Rs 143-151, seeks Rs 25,583 crore valuation — Economic Times
Issue details
The IPO comprises a fresh issue of Rs 2,830 crore and an offer for sale of 14.45 crore shares worth about Rs 2,182 crore. At the upper end of the band, the company is seeking a valuation of Rs 25,583 crore (about $2.7 billion). The issue closes on October 19, with the shares expected to list on the BSE and NSE on October 23. Investors can bid for a minimum of 99 shares, and anchor bidding is scheduled for October 14.
A loss-making issuer
Investors should note that Zetwerk reported a net loss in FY2026 on a restated consolidated basis, making its price-to-earnings ratio unascertainable. Its weighted average return on net worth for the last three financial years stood at a negative 15.64 per cent, according to the Economic Times. The book-running lead managers include Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs (India) Securities, Avendus Capital, JM Financial, HSBC Securities and Pantomath Capital Advisors, with KFin Technologies as registrar.
Zetwerk, a business-to-business manufacturing platform, is among the largest IPOs of the year and will test investor appetite for loss-making new-age companies.
Sources:
India's Zetwerk sets price band of 143-151 rupees per share for $518 million IPO — Reuters
Zetwerk sets IPO price band at Rs 143-151, seeks Rs 25,583 crore valuation — Economic Times
