Zetwerk Shares Rise 5.5% on Stock Market Debut After ₹5,012 Crore IPO
Manufacturing platform Zetwerk listed on the NSE at a 5.46% premium, closing its ₹5,012 crore initial public offering.
Zetwerk, a B2B manufacturing platform, saw its shares open at ₹159.25 on the National Stock Exchange (NSE) on its debut, representing a 5.46% premium over the issue price of ₹151. On the BSE, shares debuted at ₹159, a 5.3% increase. The listing follows an IPO that sought to raise ₹5,012.3 crore through a mix of a fresh issue and an offer for sale.
The company, which connects businesses with manufacturing capacity across sectors like renewable energy and aerospace, plans to utilize ₹2,160 crore of the fresh proceeds to address debt obligations. The remaining capital is designated for acquisitions and general corporate expenses. The IPO saw significant participation from institutional investors, with anchor investors previously allotted shares worth ₹2,251.2 crore.
Zetwerk’s financial performance shows rapid scaling alongside bottom-line volatility. While FY26 operating revenue climbed 40.4% to ₹15,913.3 crore, the company reported a net loss of ₹1,606.2 crore, impacted by exceptional charges and an impairment related to its discontinued civil infrastructure business. Recent results for Q1 FY27 indicate some stabilization, with revenue from continuing operations rising 55.4%.
Founded in 2018, the company has grown through significant venture backing, reaching unicorn status in 2021. With 26 manufacturing facilities across India and internationally, Zetwerk serves a diverse client base including Siemens Gamesa and the Indian Air Force.