Zetwerk Manufacturing Business IPO subscribed 22%

The offer received bids for 4.15 crore shares as against 18.50 crore shares on offer.

Zetwerk Manufacturing Business received bids for 4,15,90,692 shares as against 18,50,66,845 shares on offer, according to stock exchange data at 17:00 IST on 15 October 2026. The issue was subscribed 0.22 times.

The issue opened for bidding on 15 October 2026 and will close on 19 October 2026. The price band of the IPO is fixed between Rs 143 and 151 per share. An investor can bid for a minimum of 99 equity shares and multiples thereof.

The offer comprises fresh issue of equity shares of Rs 1 face value, aggregating to Rs 2830 crore and offer for sale (OFS) of 14,45,25,036 equity shares by the promoters/promoter group (5,14,36,164 equity shares), investor selling shareholders (8,73,73,742 equity shares) and individual selling shareholder (57,15,130 equity shares).

Of the net proceeds from fresh issue, the company intends to use Rs 2,160 crore for repayment and/ or pre-payment, in part or full of all the borrowing availed by the company (Rs 1,300 crore) and certain of its subsidiaries (Rs 860 crore) and balance towards funding inorganic growth through unidentified acquisitions and other strategic acquisitions and general corporate purposes.

Ahead of the IPO, Zetwerk Manufacturing Business on Tuesday, 14 October 2026, raised Rs 2,251.23 crore from anchor investors. The board allotted 14.90 crore shares at Rs 151 each to 99 anchor investors.

Zetwerk Manufacturing Businesses is a technology-led manufacturing platform that connects industrial and consumer goods companies with a network of third-party manufacturers and its own manufacturing facilities. Founded in 2017, the Bengaluru-based company serves customers across sectors such as renewable energy, power, consumer electronics, aerospace, defence, oil and gas, and industrial automation. Its customers include Siemens Gamesa, Acer India, the Indian Air Force and NTPC Renewable Energy. Energy products account for a significant share of its business, while its precision manufacturing operations cater to consumer electronics, electric vehicles and wearable devices.

The company reported a consolidated sales of Rs 4,117.88 crore for the quarter ended 30 June 2026, compared with Rs 2,649.44 crore in the corresponding quarter of the previous year, registering a year-on-year increase of 55.42%. However, the company?s net loss narrowed to Rs 68.73 crore in Q1 FY27 from Rs 881.98 crore in Q1 FY26.

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