Zetwerk IPO hits market after ₹5,000cr-plus raise and muted debut
Business
Zetwerk's IPO hits the stock market today after raising over ₹5,000 crore.
But hype seems low: its gray market premium is just ₹1, hinting at a listing price of about ₹152 (barely above its ₹151 issue price).
So, don't expect fireworks on day one.
Zetwerk proceeds for debt and acquisitions
The IPO was subscribed 3.06 times overall, with big institutional investors showing the most interest.
Most of the funds raised will go toward paying off debt and possible acquisitions.
Even though Zetwerk posted a bigger net loss this year, analysts like SBI Securities are still optimistic for the long run: they think cutting debt could help boost profits down the road.