- Summary
- Zetwerk Manufacturing Businesses IPO is issuing 14,45,25,036 equity shares as offer-for-sale and ₹2830 crore as fresh issue in a mainboard IPO opening from 15 October to 19 October 2026.
- The issue price is ₹143 to ₹151 per share, with a face value of ₹1 per share.
- The lot size is 99 shares, requiring ₹14,949 at the upper price band.
The Zetwerk Manufacturing Businesses IPO is scheduled for subscription on 15 October 2026 and to close on 19 October 2026. The company has set the price band of the IPO at ₹143-₹151 per share, with a lot size of 99 shares (₹14,949). It is a book-building issue comprising a fresh issue of ₹2,830 crore and an offer for sale of 14,45,25,036 equity shares, with a total issue size of approximately ₹5,012 crore. The IPO shares are tentatively scheduled to list on the BSE and NSE on 23 October 2026.
Zetwerk Manufacturing Businesses IPO Key Details
The table below presents the essential details investors should know before applying for the Zetwerk Manufacturing Businesses IPO.
| IPO Open Date | 15 October 2026 |
| Close Date | 19 October 2026 |
| Face value | ₹1 per share |
| Price Band | ₹143 to ₹151 |
| IPO Lot Size | 99 shares |
| Fresh issue | ₹2830 crore |
| Offer for Sale | 14,45,25,036 shares |
| Type of issue | Mainboard |
| Listing at | BSE and NSE |
| Total Issue Size (₹ Crore) | ₹5,012 cr approx |
| Minimum Investment | 1 lot (99 shares) |
Zetwerk Manufacturing Businesses IPO Timeline
Below is the complete schedule of events for the Zetwerk Manufacturing Businesses IPO.
| Bid Opening | 15 October 2026 |
| Bid Closing | 19 October 2026 |
| Tentative Allotment | 21 October 2026 |
| Initiation of Refunds | 22 October 2026 |
| Credit of Shares to Demat | 22 October 2026 |
| Tentative Listing Date | 23 October 2026 |
| UPI mandate closing date | 19 October 2026 |
Key Performance Indicators of Zetwerk Manufacturing Businesses IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | __ | _ | _ |
| ROCE (%) | 22.75 | 30.76 | |
| Debt Equity (in times) | _ | _ | _ |
| RoNW (%) | (21.11) | (4.76) | (21.00) |
| PAT Margin (%) | _ | _ | _ |
| Adjusted EBITDA margin (%) | 2.65 | 2.85 | 0.78 |
| Price to book | 4.83 | _ | _ |
Zetwerk Manufacturing Businesses IPO Financial Details
The Financial information of the Zetwerk Manufacturing Businesses IPO is as follows.
| As of March 31, 2026 | As of March 31, 2025 | As of March 31, 2024 | |
| Revenue | 15,913.32 | 11,331.86 | 12,364.37 |
| Total Asset | 13,384.63 | 10,355.43 | 10,330.85 |
| Profit | (1,606.17) | (370.71) | (917.95) |
Zetwerk Manufacturing Businesses IPO Subscription Status
The subscription data will be available once bidding begins.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Zetwerk Manufacturing Businesses IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Zetwerk Manufacturing Businesses IPO shows a GMP of ₹10 with an estimated listing price of ₹161.
| GMP Date | GMP | Est. Listing Price on upper price-₹151.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 13-Oct 11:36 | ₹19.5 (10.60%) ─ | ₹170.5 | ₹1,930 | Stable |
| 12-Oct 23:37 | ₹16 (10.60%) ▼ | ₹167 | ₹1,584 | Stable |
| 11-Oct 23:37 | ₹30 (0.00%) ─ | ₹30 | ₹0 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Zetwerk Manufacturing Businesses IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not less than 75% of the Net issue |
| NIIs | Not more than 15% of the Net issue |
| Retails | Not more than 10% of the Net issue |
| Total | 100% |
Zetwerk Manufacturing Businesses IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount |
| Retail (Min) | 1 | 99 | ₹14,949 |
| Retail (Max) | 13 | 1,287 | ₹1,94,337 |
| sHNI (Min) | 14 | 1,386 | ₹2,09,286 |
| sHNI (Max) | 66 | 6,534 | ₹9,86,634 |
| bHNI (Min) | 67 | 6,633 | ₹10,01,583 |
Zetwerk Manufacturing Businesses IPO Prospectus
Investors can access the offered prospectus for the Zetwerk Manufacturing Businesses IPO mentioned below.
About Zetwerk Manufacturing Businesses Ltd.
Zetwerk Manufacturing Businesses Limited is a technology-enabled manufacturing services company founded in 2017. It connects businesses that need industrial and consumer products with manufacturing partners and its own production facilities. Its business covers areas such as energy, renewable power, consumer electronics, precision components, aerospace and defence, and industrial equipment. The company also operates in the metals and petrochemicals supply business. Its manufacturing network helps customers manage product sourcing, production and supply across different industries.
Promoters:
- Amrit Pratik Acharya
- Srinath Ramakkrushnan
| Book Runner | Kotak Mahindra Capital Company Ltd. Morgan Stanley India Company Pvt. Ltd. Goldman Sachs (India) Securities Pvt. Ltd. Avendus Capital Pvt. Ltd. JM Financial Ltd. HSBC Securities and Capital Markets (India) Pvt. Ltd. Pantomath Capital Advisors Pvt. Ltd. |
| Issue Registrar | KFin Technologies Ltd. |
Objectives of Zetwerk Manufacturing Businesses IPO
The objectives of the Zetwerk Manufacturing Businesses IPO are given below.
| Particular | Amount in ₹ Crore |
| Repayment or prepayment of company borrowings | 1300.00 |
| Repayment or prepayment of company | 860.00 |
| General corporate purposes | _ |
| Total | _ |
Zetwerk Manufacturing Businesses Ltd.- Strengths and benefits
- Serves multiple industries: Zetwerk serves customers across several sectors, including renewable energy, industrial equipment, consumer electronics, aerospace and defence. This broad reach gives the company access to different manufacturing markets and demand sources.
- Technology-based manufacturing: The company connects customer orders with manufacturing partners and its own facilities. This allows it to coordinate production and supply across a network rather than relying entirely on the company’s owned factories.
Zetwerk Manufacturing Businesses Ltd- Risks and limitations
- Continued losses: Zetwerk reported a loss of ₹1,606.17 crore in FY2026, following losses in the previous reported periods. Investors should assess whether the company can improve its margins, control costs, and move towards sustained profitability.
- Customer concentration: The top customers of the company contributed a rate of 35.9% of the total revenue earned during the year FY2026. This indicates that loss of a significant customer may negatively impact the overall performance.
- Dependence on third-party suppliers: The company’s manufacturing model relies on external suppliers for production and materials. Its ten largest suppliers accounted for approximately 38.2% of total expenses in FY2026. Any supply disruption, cost increase, or difficulty in finding alternatives could affect production, costs, and delivery schedules.
Zetwerk Manufacturing Businesses IPO Review
The Zetwerk Manufacturing Businesses IPO is a mainboard IPO that is issuing shares worth ₹5,012.33 crore approximately, comprising fresh issues of ₹2,830 crore and an offer for sale of 14,45,25,036 equity shares. The issues are to open on 15 October 2026 and close on 19 October 2026. It has a price band of ₹143 to ₹151 per share and a lot size of 99 shares (₹14,949). The minimum retail investment at the upper price band is ₹14,949. The tentative allotment date is 21 October 2026, and the shares are expected to list on the BSE and NSE on 23 October 2026.
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Zetwerk Manufacturing Businesses IPO FAQs
The Zetwerk Manufacturing Businesses IPO is a mainboard public issue comprising a fresh issue of ₹2,830 crore and an offer for sale of 14,45,25,036 equity shares.
Investors can apply through a supported stockbroker or an IPO-enabled investment platform using the ASBA facility through their bank or UPI, where available.
The IPO has potential positives, including revenue growth, a presence across several industries and a technology-enabled manufacturing network. However, the company has reported continuing losses, low adjusted EBITDA margins and dependence on major customers and suppliers. Investors should review its RHP, financial performance, valuation and risk factors before deciding whether to apply.
The IPO is scheduled to open for subscription on 15 October 2026 and close on 19 October 2026.
The lot size is 99 shares. At the upper price band of ₹151 per share, one lot costs ₹14,949, excluding any applicable charges.
The tentative allotment date of the Zetwerk Manufacturing Businesses IPO is 21 October 2026.
The shares are tentatively scheduled to list on the BSE and NSE on 23 October 2026.
