Zetwerk IPO Subscribed 31% On Day 2
B2B manufacturing company Zetwerk's ₹5,012.3 Cr IPO was subscribed 31% at the end of the second day of bidding. Investors placed bids for 5.75 Cr shares against 18.51 Cr shares on offer.
The ₹5,012.3 crore (approx. $5.9 billion) initial public offering (IPO) by B2B manufacturing firm Zetwerk was subscribed 31% by the close of the second day of bidding. Investors placed bids for 5.75 crore shares against a total of 18.51 crore shares available.
Non-institutional investors (NIIs) subscribed 16% of their allotted portion, bidding for 836,600 shares out of 5.12 crore reserved for them. Qualified institutional buyers (QIBs) showed stronger interest, subscribing 37% of their allocation by bidding for 3.66 crore shares of the 9.89 crore earmarked for them.
The retail investor portion was subscribed 36%, with bids for 1.21 crore shares against an allocation of 3.41 crore. The employee portion saw 48% subscription.
The IPO, which opened yesterday and closes on October 19, aims to raise funds at a valuation of approximately ₹25,583 crore ($2.7 billion) at the upper end of its price band of ₹143-₹151 per share. The total offering is valued at ₹5,012.3 crore, comprising a fresh issue of ₹2,830 crore and an offer for sale (OFS) of up to 14.45 crore shares.
Prior to the public offering, Zetwerk secured ₹2,251.2 crore from anchor investors, including domestic mutual funds and global institutional investors. Founded in 2018, Zetwerk operates a full-stack manufacturing platform serving businesses across industrial and consumer goods sectors, and has previously raised over $900 million in funding.