Zetwerk lists in ₹5,012Cr IPO as investors cash out ₹1,215Cr
Business
Zetwerk just went public with a ₹5,012 crore IPO, and early backers like Kae Capital, Accel, Peak XV Partners, and Lightspeed are cashing out big, collectively earning around ₹1,215 crore.
Shares were offered at ₹151 each, letting these investors turn their early bets into major gains.
Zetwerk backers pocket ₹181-₹427Cr
Kae Capital Fund II and its affiliate Kalysta Capital Fund II are set to pocket about ₹253 crore; Accel nets roughly ₹181 crore (that's a huge 19.3x return); Peak XV gets around ₹353 crore; and Lightspeed walks away with about ₹427 crore.
Zetwerk's shares listed at ₹159 on October 23, a 5% premium to the issue price, but dropped more than 20% from the listing price during the session, a reminder that even hot IPOs can be a rollercoaster.