Zetwerk Raises ₹2,251 Crore From Anchor Investors Ahead of 15 October IPO

Key Takeaways:

• Zetwerk Manufacturing Businesses raised ₹2,251.23 crore from 99 anchor investors on 14 October 2026. 
• Participating institutions included global investors and domestic mutual fund houses such as SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund. 
• The ₹5,012 crore IPO opened on 15 October, with a price band of ₹143–151 per equity share. 

Zetwerk Completes Pre-IPO Anchor Fundraising 

Zetwerk Manufacturing Businesses raised ₹2,251.23 crore through its anchor investor round ahead of the opening of its initial public offering on 15 October 2026. 

The company allotted approximately 14.91 crore equity shares to 99 anchor investors at ₹151 per share, the upper end of its IPO price band. 

The allotment was completed on 14 October, with the details reported in late-evening coverage. 

The anchor investor group included global investment institutions and domestic asset management companies. 

Among the international participants were BlackRock, Goldman Sachs and Nomura. 

Domestic mutual fund participation included SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund and Mirae Asset Mutual Fund. 

The available reporting confirms participation by these fund houses, although it does not establish the aggregate amount allotted specifically to domestic mutual funds. 

IPO Structure and Subscription Dates 

Zetwerk's IPO opened for public subscription on 15 October and is scheduled to close on 19 October 2026. 

The issue has a price band of ₹143–151 per equity share. 

At the upper end of the price band, the total issue size is approximately ₹5,012.33 crore. 

Unlike the entirely offer-for-sale issues of Tonbo Imaging and Bonfiglioli Transmissions, Zetwerk's IPO includes both a fresh issue and an offer for sale. 

The fresh issue component is approximately ₹2,830 crore. 

The remaining portion represents equity shares offered for sale by existing shareholders. 

Proceeds from the fresh issue are intended to support purposes disclosed in the offer documents, including debt repayment and business-related requirements. Proceeds from the offer-for-sale component accrue to the respective selling shareholders, after applicable expenses. 

Business Operations 

Zetwerk operates in the manufacturing services sector, working with businesses requiring industrial components, manufacturing execution and related supply-chain capabilities. 

The company's operations connect manufacturing demand with production and delivery services across industrial segments. 

Its public offering provides access to a business operating in the broader manufacturing and industrial supply-chain ecosystem. 

The anchor book's investor composition included domestic fund managers alongside large international institutions. 

Mutual Fund Participation in IPO Allocations 

Mutual funds can participate in IPO anchor allocations subject to the applicable regulatory framework and the investment mandates of their schemes. 

Their participation is recorded through pre-issue allotments and may subsequently be reflected in scheme portfolio disclosures. 

In Zetwerk's case, the verified aggregate anchor amount was ₹2,251.23 crore, but that amount includes all participating institutional investors. 

It would therefore be inaccurate to describe the entire anchor book as mutual fund investment. 

The transaction establishes the scale of institutional fundraising preceding the IPO and identifies domestic mutual funds among the participants.