India’s Zetwerk Manufacturing Businesses
on Thursday filed updated papers for an initial public offering
through which it aims to raise ₹2,600 crore ($272.47
million) in fresh capital, as the contract manufacturer seeks to
pare debt.
Here are some key details:
• Zetwerk’s IPO also comprises an offer for sale of 96.8
million shares by existing investors.
• It plans to use ₹1,800 crore to repay debt, with the
remainder set for corporate purposes and potential acquisitions.
• The public filing comes at a time when India’s primary
market is reviving after a subdued first half of the year due to
the impact of the Middle East war and a spike in crude oil
prices.
• As many as 22 companies have either launched or announced
IPOs since July, compared to about 27 public issues between
January and June.
• Zetwerk’s fiscal 2026 revenue was ₹15,913 crore,
while it reported a pre-tax loss of ₹916 crore on
one-off charges, the filing showed.
• It has more than 20 manufacturing facilities catering to
1,100 customers across sectors including electronics, energy,
capital goods, aerospace and defence in more than a dozen
countries.
• Its customers include French industrial group Schneider
Electric, India’s top refiner Indian Oil,
Germany’s Siemens and Taiwanese technological goods
brand Acer.