Zetwerk Files Confidential DRHP For $450 Mn IPO: Report
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B2B manufacturing startup Zetwerk has reportedly filed DRHP for its $450 Mn (around ₹4,200 Cr) IPO via the confidential route.
The startup is also planning to raise $50-60 Mn in a pre-IPO funding round, Moneycontrol reported, citing sources.
Earlier, Zetwerk roped in Mahindra Capital, JM Financial, Avendus Capital, and the Indian units of HSBC, Morgan Stanley, and Goldman Sachs to helm its public listing.
Inc42 has reached out to Zetwerk for comments on the latest development. The story will be updated on receiving a response.
The development comes a week after reports said that Zetwerk’s IPO would comprise a fresh issue of shares worth nearly $300 Mn, with the offer-for-sale (OFS) component accounting for the remaining.
Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary and Rahul Sharma, Zetwerk is a full-stack manufacturing platform that produces industrial components, electronics, renewable energy equipment, and consumer hardware, while also handling procurement, quality assurance, logistics, and delivery for its clients.
(The story will be updated soon)
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