B2B manufacturing startup Zetwerk has filed a Draft Red Herring Prospectus (DRHP) for its upcoming IPO, aiming to raise $450 million (approximately ₹4,200 crore) through a confidential process.
According to reports from Moneycontrol, the company is also looking to secure between $50 million and $60 million in a pre-IPO funding round.
To facilitate its public listing, Zetwerk has engaged several financial institutions, including:
- Mahindra Capital
- JM Financial
- Avendus Capital
- HSBC (Indian unit)
- Morgan Stanley (Indian unit)
- Goldman Sachs (Indian unit)
Last week, it was reported that Zetwerk's IPO would feature a fresh issue of shares valued at nearly $300 million, with the remaining portion consisting of an offer-for-sale (OFS).
Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, and Rahul Sharma, Zetwerk operates as a comprehensive manufacturing platform. The company specializes in producing industrial components, electronics, renewable energy equipment, and consumer hardware, while also managing procurement, quality assurance, logistics, and delivery for its clients.
Further updates will follow as more information becomes available.
