Zetwerk Manufacturing Businesses Limited is set to launch its much-awaited initial public offering (IPO) on October 15, 2026, with the company fixing the price band at ₹143 to ₹151 per equity share. The IPO will remain open for public subscription until October 19, while the anchor investor bidding will take place on October 14.
The public issue consists of a fresh issue worth ₹2,830 crore along with an offer for sale (OFS) of up to 144.52 million equity shares by existing shareholders. Through the fresh issue, the company aims to raise capital for its business requirements, while the OFS will allow certain existing investors to partially exit their holdings.
Investors can bid for a minimum of 99 equity shares, and thereafter in multiples of 99 shares. The equity shares have a face value of ₹1 each, with the upper price band being 151 times the face value.
The IPO is being launched through the book-building process in accordance with the Securities and Exchange Board of India (SEBI) regulations. As per the norms, 75% of the net offer has been reserved for Qualified Institutional Buyers (QIBs). The company may allocate up to 60% of the QIB portion to anchor investors before the issue opens for public subscription.
Within the anchor investor allocation, 33.33% has been reserved for domestic mutual funds, while 6.67% has been earmarked for life insurance companies and pension funds. Any unsubscribed portion under these categories can be reallocated as per SEBI guidelines.
Additionally, 5% of the net QIB portion has been reserved exclusively for mutual funds, with the remaining allocation available to all eligible institutional investors. If mutual funds do not fully subscribe to their reserved portion, the remaining shares will be distributed among other QIBs.
For non-institutional investors (NIIs), up to 15% of the net offer has been reserved. This category has been divided into two segments based on investment size, ensuring participation from both smaller and larger high-net-worth investors.
Retail Individual Bidders (RIBs) have been allocated up to 10% of the net offer, subject to valid bids being received at or above the offer price. The company has also reserved a separate employee quota, allowing eligible employees to apply under the employee reservation portion.
Except for anchor investors, all applicants will have to apply through the Application Supported by Blocked Amount (ASBA) process. Investors applying through the Unified Payments Interface (UPI) mechanism will also need to provide their UPI ID while submitting applications.
Following the completion of the issue, Zetwerk’s equity shares are proposed to be listed on both the BSE and the National Stock Exchange (NSE), with the NSE serving as the designated stock exchange for the IPO.
The issue is being managed by a consortium of leading investment banks, including Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, and Pantomath Capital Advisors Private Limited as the Book Running Lead Managers.
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