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Zetwerk Manufacturing IPOUPCOMING

NSE, BSEMainboardBook Built Issue

Zetwerk Manufacturing Businesses Limited is a technology-enabled global manufacturing company providing customised engineering, manufacturing and supply chain solutions across multiple industries.

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Opens

15 Oct 26

Closes

19 Oct 26

Allotment

21 Oct 26

Refund

22 Oct 26

Demat

22 Oct 26

Listing

23 Oct 26

Bidding opens

in 3 days

15 – 19 Oct

Min. investment₹14,949
GMP₹13 · +8.6%
Pre-apply in the app

Retail bids until 5:00 PM, other categories until 4:00 PM on the closing day.

Overview

Price band

₹143-151

Lot size

99 shares

Min. investment

₹14,949

Issue size

₹5012.33 Cr

33.20 Cr shares

Fresh issue

₹2,830 Cr

18.75 Cr shares

Offer for sale

₹2,182.33 Cr

14.45 Cr shares

Face value

₹1 / share

Issue type

Book Built Issue

Listing at

NSE, BSE

Employee discount

₹14

Reservation

QIB 75%NII 15%Individual 10%

Lot size & investment

ApplicationLotsSharesAmount
Retail (Min)199₹14,949
Retail (Max)131,287₹1,94,337
S-HNI (Min)141,386₹2,09,286
S-HNI (Max)666,534₹9,86,634
B-HNI (Min)676,633₹10,01,583

Zetwerk Manufacturing Live GMP

GMP₹13
Est. Price₹164
Est. Gain8.61%
121416182012 Oct · ₹2012 Oct · ₹1612 Oct · ₹1312 Oct12 Oct12 Oct

Latest GMP

₹13

All-time high

₹20

All-time low

₹13

GMP × retail lot ₹1,287GMP × S-HNI min ₹18,018Expected listing ~ ₹164GMP is unofficial and changes often. Data as of 12 Oct, 03:23 pm.

Subscription

Live category-wise bids appear here once bidding opens on 15 Oct 26. Reserved share of the issue:

QIB
75%
NII
15%
Individual
10%

Financials

(₹ in crores)

-5,00005,00010,00015,00020,000Mar 2024 · Revenue: 12,523.46Mar 2024 · Expense: 875.5Mar 2024 · Profit after tax: -917.95Mar 2024 · Assets: 10,330.85Mar 2024 · Borrowing: 1,232.1Mar 2024Mar 2025 · Revenue: 11,492.23Mar 2025 · Expense: 980.12Mar 2025 · Profit after tax: -370.71Mar 2025 · Assets: 10,355.43Mar 2025 · Borrowing: 1,746.55Mar 2025Mar 2026 · Revenue: 16,100.63Mar 2026 · Expense: 1,138.43Mar 2026 · Profit after tax: -1,606.17Mar 2026 · Assets: 13,384.63Mar 2026 · Borrowing: 1,936.16Mar 2026Jun 2026 · Revenue: 4,195.7Jun 2026 · Expense: 330.05Jun 2026 · Profit after tax: -732.98Jun 2026 · Assets: 12,016.09Jun 2026 · Borrowing: 1,942.19Jun 2026

Key performance indicators

As of 30 Jun 2026

RoNW

-1.74%

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+28.6%

Strengths & risks

  • Asset-Light Model with scalable global manufacturing capabilities.
  • Diversified Presence across multiple industries and geographies.
  • Technology Advantage through proprietary Zetwerk OS.
  • Strong Supplier Network spanning 26 countries.
  • Manufacturing Growth with 50.02% revenue growth in FY2026.
5.1/10

Buzz score · Watch

From GMP, subscription and issue size

Financials5.6
Growth5.5
Business5.2
Demand4.2
Risk7.2

Objects of the issue

PurposeAmount (₹ Cr)
Repayment/prepayment, in part or full, of certain of or all of borrowings availed by the company.1300
Repayment/prepayment, in part or in full, of certain or all borrowings availed by Certain Subsidiaries, namely, (i) Sharp Tanks and Structurals Private Limited; (ii) Terra91 International Private Limited; (iii) Smile Electronics Limited; (iv) Kryfs Power Components Limited; (v) Kryfs Transformers Private Limited; (vi) Unimacts Global LLC; (vii) Zetwerk Manufacturing SG Pte. Ltd.; (viii) Zap91 Solar India Private Limited; and (ix) Zet Town India Private Limited, through investments in such subsidiaries.860
Funding inorganic growth through unidentified acquisitions and other strategic acquisitions, and general corporate purposes.-

Company & documents

Zetwerk Manufacturing Businesses Limited is a Bengaluru-based technology-enabled global manufacturing company providing customised manufacturing solutions for industrial and consumer businesses. Incorporated in December 2017, the company operates a hybrid manufacturing model combining its own production facilities with a global network of third-party suppliers. Its services include product design, engineering, supplier selection, manufacturing, quality control, procurement and logistics.

The company serves industries including renewable energy, power and utilities, consumer electronics, AI infrastructure, aerospace and defence, oil and gas, and industrial automation.

Its operations are divided into two business segments:

  • Manufacturing Business: Covers Energy Products, Precision Products and Capital Goods, including transformers, solar and wind components, electronics, industrial machinery and steel structures.
  • Ecosystem Business (Terra91): Focuses on procuring and supplying industrial raw materials, including steel, aluminium, copper, zinc, lead and petrochemicals, through an integrated sourcing platform.

The company's proprietary Zetwerk OS platform manages supplier matching, production planning, quality inspections, order tracking and logistics across its manufacturing network.

As of June 30, 2026, Zetwerk operated 26 manufacturing facilities across India, the United States, Spain and Germany, supported by suppliers across 26 countries. During FY2026, it served 1,802 customers, including 1,613 domestic and 189 international customers. Its major customers include Siemens Gamesa, Acer India, boAt, NTPC Renewable Energy, CG Power, Indian Oil Corporation and DRDO.

As of June 30, 2026, the company's Manufacturing Business order book stood at ₹13,062.40 crore. It employed 3,754 employees and 7,482 contract labourers across its operations.

Registrar

Kfin Technologies Ltd.

Phone: 040-79615565

Email: zetwerk.ipo@kfintech.com

Web: https://ipostatus.kfintech.com/

Company contact

Zetwerk Manufacturing Business Ltd.

84/1, Vaishnavi Sovereign, Ground & 1st Floor, Green Glen Layout, Bellandur, Bangalore Urban, Karnataka, 560103

Phone: +91 7624 9748 90

Email: cs@zetwerk.com

Web: https://www.zetwerk.com/

Book running lead managers

  • JM Financial Limited
  • Avendus Capital Private Limited
  • Kotak Mahindra Capital Company Limited
  • Pantomath Capital Advisors Private Limited
  • Morgan Stanley India Company Private Limited
  • Goldman Sachs (India) Securities Private Limited
  • HSBC Securities and Capital Markets (India) Private Limited

Promoters

21.1%Pre Issue
15.7%Post Issue
  • Amrit Pratik Acharya
  • Srinath Ramakkrushnan