Zetwerk Manufacturing Businesses IPO Shares List at ₹159 on NSE and BSE, 5.30% Premium

Zetwerk Manufacturing Businesses Ltd. shares made their stock market debut on Friday, October 23, 2026, listing at ₹159 per share on the Bombay Stock Exchange (BSE), representing a premium of 5.30% over the IPO issue price of ₹151 per share. The stock also debuted above its issue price on the National Stock Exchange (NSE).

However, the shares declined shortly after listing. At around 10:10 AM, Zetwerk Manufacturing shares were trading at ₹148.50 on the BSE, down 6.60% from the opening price of ₹159. The stock had also fallen below its IPO issue price of ₹151, representing a decline of 1.66% from the issue price.

The listing followed the company's ₹5,012.33 crore initial public offering, which opened for subscription on October 15, 2026, and closed on October 19, 2026. The IPO received an overall subscription of 3.10 times, with Qualified Institutional Buyers (QIBs) recording the highest subscription at 4.73 times. The issue price band was fixed at ₹143 to ₹151 per share.

Zetwerk Manufacturing Businesses is a technology-led manufacturing platform that provides engineering, procurement and manufacturing solutions across multiple industries. Its operations cover industrial equipment, renewable energy, electronics, aerospace, defence and infrastructure-related manufacturing.

Zetwerk Manufacturing Businesses IPO Listing Details

Zetwerk Manufacturing Businesses IPO was a ₹5,012.33 crore book-built issue comprising a fresh issue of equity shares worth ₹2,830 crore and an offer for sale of 14.45 crore equity shares by existing shareholders.

At the upper end of the IPO price band, the offer-for-sale component was valued at approximately ₹2,182.33 crore. The fresh issue accounted for the larger portion of the public offering.

The company plans to utilise the proceeds from the fresh issue to repay outstanding borrowings of the company and its subsidiaries, finance unidentified acquisitions and meet general corporate purposes. Proceeds from the offer-for-sale component will go to the selling shareholders.

The IPO price band was fixed at ₹143 to ₹151 per share, with a face value of ₹1 per equity share. The minimum application lot comprised 99 equity shares, requiring an investment of ₹14,949 at the upper end of the price band.

पब्लिक इश्यू 15 अक्टूबर, 2026 को खुला और 19 अक्टूबर, 2026 को बंद हुआ. The basis of allotment was scheduled for October 21, followed by the credit of shares to successful applicants' demat accounts on October 22, 2026.

Ahead of the public offering, Zetwerk Manufacturing Businesses raised ₹2,251.23 crore from anchor investors. The company allotted approximately 14.91 crore equity shares to 99 funds at ₹151 per share.

The anchor investor allocation included participation from BlackRock, Goldman Sachs, Nomura, Capital Group and First Sentier Investors. Sovereign wealth funds, including Norway's Government Pension Fund Global and Abu Dhabi Investment Authority, also participated.

On October 23, 2026, the company's shares debuted above the IPO issue price. However, the stock declined below its issue price during early trading on the BSE.

• जारी करने की कीमत: ₹151 प्रति शेयर

• BSE लिस्टिंग की कीमत: ₹159 प्रति शेयर

• BSE लिस्टिंग प्रीमियम: 5.30%

• BSE Trading Price at 10:10 AM: ₹148.50

• Change From BSE Listing Price: -6.60%

• Change From Issue Price at 10:10 AM: -1.66%

• कुल सब्सक्रिप्शन: 3.10 बार

• इश्यू का साइज़: ₹5,012.33 करोड़

• Fresh Issue: ₹2,830 crore

• Offer for Sale: Approximately ₹2,182.33 करोड़

• प्राइस बैंड : ₹143 से ₹151 प्रति शेयर

• लॉट साइज़: 99 शेयर

• न्यूनतम निवेश: ₹ 14,949

• Anchor Investment: ₹2,251.23 crore

• IPO खोलने की तिथि: 15 अक्टूबर, 2026

• IPO बंद होने की तिथि: 19 अक्टूबर, 2026

• लिस्टिंग की तिथि: 23 अक्टूबर, 2026

• एक्सचेंज: NSE और BSE

फर्स्ट-डे ट्रेडिंग परफॉर्मेंस

Zetwerk Manufacturing Businesses share price began trading above their IPO issue price on October 23, 2026, but declined during the opening trading session.

Listing Price: On the BSE, the stock opened at ₹159 per share, compared with the IPO issue price of ₹151, resulting in a premium of ₹8 per share, or 5.30%.

Post-Listing Price: Soon after the opening, the stock declined to ₹148.50 on the BSE at around 10:10 AM. This represented a fall of ₹10.50 per share, or 6.60%, from the opening price.

At ₹148.50, the shares were trading ₹2.50 below the IPO issue price, reflecting a decline of 1.66% from the issue price.

Listing Return: Investors allotted one lot of 99 shares at the issue price of ₹151 invested ₹14,949. At the BSE opening price of ₹159, the value of one lot stood at ₹15,741, representing a gain of ₹792 before applicable charges and taxes.

However, at the subsequent trading price of ₹148.50, the value of one lot declined to ₹14,701.50, representing a loss of ₹247.50 compared with the IPO allotment value.

Opening Performance: The stock's initial premium was followed by selling pressure during the early trading session, causing the price to move below its IPO issue price.

The price movement occurred despite the IPO receiving 3.10 times overall subscription, with the institutional investor category recording the highest participation during the bidding period.

ज़ेटवर्क मैन्युफैक्चरिंग बिज़नेस IPO सब्सक्रिप्शन स्टेटस

The Zetwerk Manufacturing Businesses IPO received an overall subscription of 3.10 times by the close of bidding on October 19, 2026.

The public issue attracted bids for 56,62,60,695 shares against 18,50,66,845 shares available for subscription, according to the reported NSE subscription data.

Qualified Institutional Buyers recorded the highest subscription at 4.73 times, followed by Non-Institutional Investors at 1.40 times. The Individual Investors category received subscriptions equivalent to 0.73 times the shares reserved for the category.

The institutional investor category recorded the highest participation, with QIB subscriptions exceeding four times the shares reserved for the category.

The NII portion was subscribed 1.40 times, while Individual Investors subscribed 0.73 times their allocated portion, indicating that the retail segment did not reach full subscription.

The overall subscription figure reflected demand across institutional and non-institutional investor categories during the three-day IPO bidding period.

About Zetwerk Manufacturing Businesses Ltd.

Zetwerk Manufacturing Businesses Limited is a technology-led manufacturing platform established in 2018. The company connects businesses with manufacturing capabilities through its network of owned facilities and third-party suppliers.

Its operations span industrial equipment, renewable energy, electronics, aerospace, defence and other manufacturing sectors. The company provides integrated services covering product development, sourcing, engineering, production management, quality control and supply chain coordination.

Zetwerk operates two principal businesses: Manufacturing Business and Ecosystem Business, branded as Terra91. The company discontinued its civil infrastructure business in FY26 as part of a strategic realignment.

The company operates 26 manufacturing facilities across India, the United States, Germany and Spain. It also works with third-party suppliers across several countries to fulfil manufacturing requirements for its customers.

Its customer base includes Siemens Gamesa, Acer India, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, DRDO, the Indian Air Force and Numaligarh Refinery Limited.

Zetwerk's investors include Khosla Ventures, Baillie Gifford, Rakesh Gangwal, Accel, Peak XV and Lightspeed.

The company reported revenue from operations of ₹15,913.32 crore in FY26, compared with ₹11,331.86 crore in FY25. Its net loss widened to ₹1,606.17 crore in FY26 from ₹370.71 crore in FY25.

The company's business model combines technology-enabled supplier management with manufacturing execution. It coordinates production activities across multiple facilities and suppliers to serve customers in different industrial sectors.

The listing on NSE and BSE provides a public trading platform for Zetwerk Manufacturing Businesses shares following the completion of its ₹5,012.33 crore initial public offering.