Zetwerk Manufacturing Business IPO ends with 3.06 times subscription

The offer received bids for 56.62 crore shares as against 18.50 crore shares on offer.

Zetwerk Manufacturing Business received bids for 56,62,60,695 shares as against 18,50,66,845 shares on offer. The issue was subscribed 3.06 times.

The qualified institutional buyers' (QIB) portion was subscribed 4.73 times, while the non-institutional investors' (NII) category was subscribed 1.40 times. The retail individual investors' (RII) segment was subscribed 0.73 times.

The issue opened for bidding on 15 October 2026 and closed on 19 October 2026. The price band of the IPO was fixed between Rs 143 and 151 per share.

The offer comprised a fresh issue of equity shares of Rs 1 face value, aggregating to Rs 2,830 crore, and an 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 an individual selling shareholder (57,15,130 equity shares).

Of the net proceeds from the fresh issue, the company intended to use Rs 2,160 crore for repayment and/or prepayment, in part or full, of borrowings availed by the company (Rs 1,300 crore) and certain subsidiaries (Rs 860 crore). The balance was to be used to fund inorganic growth through unidentified acquisitions and other strategic acquisitions and for 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.

Powered by Capital Market - Live News