Zetwerk files updated IPO draft papers with Sebi to raise ₹2,600 crore

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.

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.