Zetwerk Manufacturing Businesses opened its initial public offering on 15 October 2026, with an issue size of ₹5,012 crore, according to Business Today. The price band is ₹143 to ₹151 per share. The issue closes on Monday 19 October, and the report gives 23 October as the listing date on the NSE and BSE.
The issue
The offer has a fresh issue of ₹2,830 crore and an offer for sale of up to 14.45 crore equity shares worth ₹2,182 crore. The minimum bid is 99 equity shares, and bids go up in multiples of 99. The report says 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.
Anchor book
Zetwerk raised ₹2,251.23 crore from 99 anchor investors, who were allotted 14.90 crore shares at ₹151 each, the top of the price band.
Use of proceeds
The company plans to use the money for debt repayment, for acquisitions it has not identified and other strategic acquisitions, and for general corporate purposes.
The company's financials
For the quarter ended 30 June 2026, Zetwerk reported a net loss of ₹732.98 crore on revenue of ₹4,195.70 crore. For the year ended 31 March 2026, it reported a net loss of ₹1,606.17 crore on revenue of ₹16,100.63 crore. The report puts its market capitalisation at more than ₹25,500 crore at the current valuation.
Who is running the issue
The book running lead managers are Kotak Mahindra Capital, Morgan Stanley India, Goldman Sachs (India), Avendus Capital, JM Financial, HSBC Securities and Capital Markets, and Pantomath Capital. The registrar is Kfin Technologies. The report also lists brokerage views and grey market data, which this summary does not repeat.
Key numbers
- Issue size: ₹5,012 cr (Fresh ₹2,830 cr + OFS)
- Price band: ₹143–151 (Per share)
- Anchor book: ₹2,251.23 cr (99 investors)
- Opens / closes: 15 / 19 Oct (Listing 23 Oct)
What boards and CFOs should note
Three points stand out for finance teams. First, the issue splits roughly 56% fresh capital and 44% offer for sale, going by the report's ₹2,830 crore and ₹2,182 crore. Second, the company reported losses in the June quarter and the last financial year, while the proceeds are partly meant for debt repayment. Third, institutional buyers hold the largest share of the book, at 75% of the issue.
Source: Business Today, 15 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
