Zetwerk IPO Price Band Set at Rs 143-151; Company Aims to Raise Rs 5,012 Cr

Zetwerk Manufacturing Business Ltd has fixed the price band for its upcoming initial public offering (IPO) at Rs 143-151 per share. The company aims to raise around Rs 5,012 Cr through a fresh issue of shares and an offer for sale (OFS) by existing shareholders.

The IPO will open for subscription on October 15 and close on October 19. At the upper end of the price band, Zetwerk is expected to have a market capitalisation of nearly Rs 26,000 Cr.

Zetwerk IPO: Fresh Issue and Offer for Sale

The IPO includes a fresh issue worth Rs 2,830 crore and an OFS worth Rs 2,182.3 crore. The money raised through the fresh issue will go to Zetwerk, while the OFS proceeds will go to shareholders selling their shares.

Zetwerk co-founders Amrit Pratik Acharya and Srinath Ramakrishnan are among the selling shareholders. Existing investors, including Peak XV Partners, Accel India V, Lightspeed Venture Partners and Saifuddin Qureshi, will also sell shares through the offer.

Following the IPO, promoter shareholding is expected to fall to 15.71% from 21.08%.

Zetwerk IPO: Lot Size and Investor Quota

The company has set the lot size at 99 shares. Retail investors applying at the upper price of Rs 151 per share will need a minimum investment of Rs 14,949.

The issue has been divided among investor categories as follows:

• 75%: Reserved for qualified institutional buyers (QIBs)

• 15%: Reserved for non-institutional investors (NIIs)

• 10%: Reserved for retail investors

Eligible employees will receive a discount of Rs 14 per share under the offer.

Zetwerk IPO: Important Dates

The share allotment is scheduled for October 21. Shares are expected to be credited to successful applicants’ demat accounts on October 22, while the stock is scheduled to list on the BSE and NSE on October 23.

Kotak Capital, Morgan Stanley, Goldman Sachs, Avendus Capital, JM Financial, HSBC Securities and Pantomath Capital are the book-running lead managers for the IPO. KFin Technologies has been appointed as the registrar.

The upcoming listing will bring Zetwerk to the public markets, giving investors an opportunity to participate in the company’s growth. Investors should review the final offer documents and understand the risks before applying.

Key Numbers

• Rs 5,012 Cr: Total IPO size

• Rs 143-151 per share: IPO price band

• Rs 14,949: Minimum retail investment at the upper price band