Zetwerk IPO fully subscribed at $518 million amid institutional demand
Business
Zetwerk's big $518 million IPO just crossed the finish line, with all shares fully subscribed by the last day.
Institutional investors showed strong interest, bidding for more than their share, while retail and non-institutional buyers were a bit quieter this time.
Zetwerk IPO valued up to ₹25,583cr
The IPO values Zetwerk at up to ₹25,583 crore (about $2.69 billion), with shares priced between ₹143 and ₹151.
This includes fresh shares and some being sold by early backers and co-founders.
Zetwerk's stock is set to start trading on October 23, a major step for the company as it looks to grow further, backed by big-name clients like Siemens Gamesa and the Indian Air Force.