Zetwerk's path to IPO.
B2B manufacturing startup Zetwerk has confidentially filed for a $450 million (₹4,200 Cr) IPO, according to reports. The company is also planning to raise $50-60 million in a pre-IPO funding round, according to Moneycontrol sources.
Founded in 2018, Zetwerk operates a full-stack manufacturing platform producing industrial components, electronics, renewable energy equipment, and consumer hardware. The platform also handles procurement, quality assurance, logistics, and delivery for its clients.
Earlier, Zetwerk onboarded Mahindra Capital, JM Financial, Avendus Capital, HSBC, Morgan Stanley, and Goldman Sachs to manage its public listing. The IPO may include a fresh issue of shares worth nearly $300 million, with an offer-for-sale (OFS) component accounting for the remainder.
Zetwerk’s move to go public reflects increasing maturity in India’s manufacturing-focused startup ecosystem and could set a precedent for other B2B players considering public listings.
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