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Zetwerk Engages Banks for $500 Million IPO in India


Last Updated: 15th January 2025 - 11:25 am
Indian manufacturing and logistics company Zetwerk Pvt is preparing for a potential initial public offering (IPO) in Mumbai that may raise at least $500 million, according to sources familiar with the developments.
Based in Bengaluru, Zetwerk has reportedly chosen Axis Capital Ltd., Goldman Sachs Group Inc., Jefferies Financial Group Inc., JM Financial Ltd., JPMorgan Chase & Co., and Kotak Mahindra Bank Ltd. to manage the IPO, the sources said. The company is aiming for a valuation of approximately $5 billion and is targeting a listing as early as this year. However, final decisions regarding the IPO’s size and timing remain subject to change, the sources added, requesting anonymity due to the private nature of the information.
IPO Market Landscape in India
Zetwerk’s potential listing is being closely monitored by market participants due to its rapid growth and expanding presence in key industrial sectors. The company operates as a B2B marketplace that facilitates connections between suppliers and customers, offering customized manufacturing solutions across industries such as aerospace, defense, consumer electronics, and home appliances. This unique approach has allowed Zetwerk to carve out a niche in the highly competitive industrial manufacturing space.
Zetwerk's Growth Trajectory and Strategic Investments
Since its inception, Zetwerk has demonstrated impressive growth, backed by its strong partnerships with leading investors, including Peak XV Partners (formerly Sequoia Capital India) and Lightspeed India Partners. The company’s robust financial backing has enabled it to expand its service offerings, invest in cutting-edge technologies, and scale its operations globally. By leveraging data analytics and digital tools, Zetwerk enhances supply chain efficiency, streamlines production timelines, and provides end-to-end visibility for clients.
In addition to its presence in India, Zetwerk has also expanded its operations to international markets, serving clients in North America and Southeast Asia. The company’s ability to adapt to complex manufacturing needs has positioned it as a key player in the global industrial manufacturing ecosystem. This makes Zetwerk’s IPO one of the most anticipated events in the financial markets, as investors seek to capitalize on its future growth potential.
Broader Implications for Indian Startups
Zetwerk’s move toward a public listing signals a growing trend among Indian startups seeking to tap into public capital markets as they scale their operations. The success of this IPO could set a precedent for other late-stage startups considering IPOs amid improving market sentiment. Companies in sectors such as fintech, healthcare, and logistics are watching the IPO closely, as its performance may influence their own strategic decisions.
Zetwerk's Market Impact and Future Prospects
Zetwerk’s IPO could also serve as a testament to the evolving role of tech-enabled manufacturing platforms in transforming traditional industries. By optimizing procurement and improving collaboration between suppliers and manufacturers, Zetwerk has positioned itself at the forefront of Industry 4.0 innovations in India. The firm’s anticipated valuation of around $5 billion reflects not only its current market strength but also the broader potential for digital manufacturing to disrupt the industrial landscape.
If successful, Zetwerk’s listing could encourage further investments in the sector, drive innovation, and reinforce India’s position as a global hub for advanced manufacturing and industrial solutions. This IPO could potentially draw attention from both domestic and international investors, further contributing to India’s economic growth and bolstering its standing in the global IPO arena.
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