Zetwerk Sets IPO Price Band at ₹143-₹151 for ₹5,012 Cr Issue
B2B manufacturing firm Zetwerk has set its Initial Public Offering (IPO) price band between ₹143 and ₹151 per share, valuing the issue at up to ₹5,012.3 crore at the upper end.
Manufacturing company Zetwerk has announced the price band for its upcoming Initial Public Offering (IPO). The price has been set between ₹143 and ₹151 per share, potentially raising ₹5,012.3 crore (approximately $600 million) at the upper end of the range.
The IPO will be open for subscription from October 15 to October 19, with anchor investor bidding scheduled for October 14. At the upper price limit, Zetwerk is targeting a post-issue market capitalization of around ₹25,583 crore (approximately $2.7 billion).
The offering includes a fresh issue of shares worth ₹2,830 crore and an offer for sale (OFS) of existing shares amounting to ₹2,182.3 crore. The company increased the size of the fresh issue compared to its earlier filings. Selling shareholders include founders Amrit Pratik Acharya and Srinath Ramakkrushnan, along with investment firms like Peak XV Partners and Accel India.
Zetwerk intends to use approximately ₹2,160 crore from the proceeds for repaying or prepaying borrowings of the company and its subsidiaries. The remaining funds are earmarked for acquisitions and general corporate purposes. The company confidentially filed its draft IPO papers in March.