This Indian contract manufacturer wants to raise $750M via IPO
What's the story
Bengaluru-based contract manufacturer Zetwerk is gearing up to raise between $500 million and $750 million through an initial public offering (IPO). The move could value the company at around $5 billion. To manage the process, Zetwerk has enlisted six top investment banks including Kotak Mahindra Capital and Goldman Sachs. The IPO is likely to include a combination of new shares as well as some existing ones being sold.
Business model
Zetwerk's role in the manufacturing industry
Zetwerk acts as a bridge between businesses needing custom industrial parts and manufacturers capable of producing them. The company serves various sectors including aerospace components, consumer electronics, and capital goods. In FY24, Zetwerk reported an impressive ₹17,564 crore ($2.1 billion) in gross merchandise value and has been operationally profitable since mid-2021.
Growth trajectory
Zetwerk's IPO journey and financial backing
Zetwerk is gearing up for its IPO with a draft prospectus likely to be filed in early 2026. The company has already raised more than $700 million from investors such as Khosla Ventures and ICONIQ. This financial backing has fueled Zetwerk's growth as it moves closer to its public offering.