Synopsis
Manufacturing marketplace Zetwerk is in discussions to raise approximately Rs 500 crore in pre-IPO funding from Bharat Value Fund and HNIs, valuing the company at Rs 25,000-26,000 crore. The company is also preparing to confidentially file draft IPO papers with Sebi for a public issue expected to be around Rs 5,000 crore.The proposed round is expected to value the company at Rs 25,000-26,000 crore (about $3 billion), about the same as its previous valuation, signalling cautious investor sentiment ahead of its planned public market debut.
Zetwerk is also preparing to confidentially file draft IPO papers with the Securities and Exchange Board of India (Sebi), as per people familiar with the matter. The public issue size is expected to be about Rs 5,000 crore, including about Rs 2,700-2,800 crore in fresh capital, with the remaining component likely through an offer for sale (OFS).
Bharat Value Fund, an alternative investment fund (AIF), is focused on late-stage and pre-IPO opportunities and is managed by financial services group Pantomath.
The development comes at a time when new-age IPOs are facing pricing pressure as public market investors demand sharper discounts to private valuations, especially for loss-making companies.
