Zetwerk exits civil infrastructure business with ₹668.9 crore June-quarter loss

Zetwerk said on October 13 that it is exiting its Civil Infrastructure Works business ahead of its public market debut and reported a ₹668.9 crore loss from discontinued operations for the June quarter. The company plans to sell the Civil Infrastructure arm after citing problems in the business. Its initial public offering is scheduled to open on October 15.

Zetwerk moves to sell its Civil Infrastructure Works operations

Zetwerk took the decision to leave the Civil Infrastructure Works business before its public market debut. Its red herring prospectus placed the completion window for the proposed sale at 12 months.

Discontinued-operations losses add to Zetwerk's pre-IPO financial impact

The company’s discontinued-operations loss rose to ₹641 crore in FY26 from ₹156 crore in FY25, according to Zetwerk. The restated loss for the three months ended June 30, 2026 was attributed in the red herring prospectus primarily to provisions for bad and doubtful debts and unbilled revenue.

Amrit Acharya cites safety and customer-quality problems

Chief executive Amrit Acharya said safety concerns and poor customer quality caused the Civil Infrastructure Works business to go wrong. He described the business as a mistake that Zetwerk had decided to shut down.

Acharya said the provisions were non-cash adjustments and did not affect the operating part of the business. He also said the mistakes were behind the company and that the related operations had been shut down.

Zetwerk's IPO timetable runs from October 15 to the expected October 23 debut

Zetwerk intends to raise ₹5,012.3 crore through the IPO. The company is seeking a valuation of ₹25,583.2 crore at the upper end of the price band.

The company’s issue timetable provides for the IPO to open on October 15 and close on October 19. Zetwerk’s share allotment was likely to be finalised on October 21, and the shares were expected to debut on October 23.

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