Zetwerk IPO Subscribed 27% on Day 2, Retail at 32%
-
Khushi Jain
- October 16, 2026
B2B manufacturing company Zetwerk’s Rs 5,012.3 crore initial public offering (IPO) was subscribed 27% on the second day of bidding. Investors placed bids for 4.95 crore shares against 18.51 crore shares on offer as of 14:39 IST, according to BSE data.
Zetwerk IPO Subscription Details
Non-institutional investors (NIIs) bid for 67.85 lakh shares against 5.13 crore shares reserved for them, subscribing to 13% of their quota. Within the NII category, both the portions for bids above Rs 2 lakh and up to Rs 10 lakh, and those above Rs 10 lakh, were subscribed 13%.
Qualified institutional buyers (QIBs) subscribed to 32% of their allocation, placing bids for 3.13 crore shares against 9.89 crore shares on offer.
The retail portion was also subscribed 32%, with bids for 1.11 crore shares against an allocation of 3.42 crore shares.
Meanwhile, employees bid for 2.95 lakh shares against 7 lakh shares reserved for them, subscribing to 42% of their quota.
IPO Price Band and Issue Structure
Zetwerk’s IPO opened on October 15 and will close on October 19. The company has set a price band of Rs 143 to Rs 151 per share, implying a valuation of around Rs 25,583 crore, or about $2.7 billion, at the upper end of the price band.
The IPO comprises a fresh issue of Rs 2,830 crore and an offer for sale (OFS) of up to 14.45 crore shares, worth Rs 2,182.3 crore at the upper end of the price band.
Ahead of the issue, Zetwerk raised Rs 2,251.2 crore from anchor investors. Domestic mutual funds, including SBI Mutual Fund and ICICI Prudential Mutual Fund, accounted for around 46% of the anchor book. Global institutional investors, including Goldman Sachs, BlackRock and ADIA, also participated.
About Zetwerk’s Business
Founded in 2018, Zetwerk operates a full-stack manufacturing platform serving businesses across industrial and consumer goods categories.
The company combines capacity from third-party suppliers and its own facilities to manage manufacturing orders across sectors such as renewable energy, consumer electronics, aerospace, defence, oil and gas, and industrial automation.
Zetwerk has raised over $900 million in funding to date from investors including Peak XV Partners, Lightspeed Venture Partners, Accel India, Greenoaks Capital Partners and D1 Capital Partners.
Financial Performance
Zetwerk’s operating revenue from continuing operations rose 55.4% to Rs 4,117.9 crore in Q1 FY26 from Rs 2,649.4 crore in the year-ago period.
Its net loss narrowed 46.4% to Rs 733 crore from Rs 1,368.5 crore in the corresponding period a year earlier.
Of the latest quarterly loss, Rs 668.9 crore came from discontinued operations, while continuing operations accounted for Rs 64.1 crore. The year-ago quarter included Rs 803.2 crore in exceptional charges from continuing operations and a Rs 453 crore impairment charge in the discontinued business.
FAQs
1. What is the subscription status of Zetwerk’s IPO on Day 2?
Zetwerk’s IPO was subscribed 27% as of 14:39 IST on the second day of bidding.
2. What is the price band for Zetwerk’s IPO?
The company has set a price band of Rs 143 to Rs 151 per share.
3. How much is Zetwerk raising through its IPO?
The IPO is valued at Rs 5,012.3 crore and comprises a fresh issue of Rs 2,830 crore and an OFS of up to 14.45 crore shares worth Rs 2,182.3 crore at the upper end.
4. Who invested in Zetwerk’s anchor book?
Domestic mutual funds, including SBI Mutual Fund and ICICI Prudential Mutual Fund, accounted for around 46% of the anchor book. Goldman Sachs, BlackRock and ADIA also participated.
5. How did Zetwerk perform financially in the latest reported quarter?
Operating revenue from continuing operations rose 55.4% to Rs 4,117.9 crore, while net loss narrowed 46.4% to Rs 733 crore.
Disclaimer: We are a media platform sharing stock market and IPO news for informational purposes only. We do not provide investment advice.
