Zetwerk Sets Sights on $500 Million IPO: India’s Manufacturing Powerhouse Prepares for Market Debut

India's contract manufacturing behemoth Zetwerk is changing gears for a blockbuster IPO, looking to raise at least $500 million over the next 12–24 months. The Bengaluru-headquartered firm, which was valued at $3.1 billion after its last funding round, is looking to achieve a public market valuation of approximately $5 billion. Zetwerk's leadership confirmed the timeline at the recent Rising Bharat Summit, citing their emphasis on profitability, strong financials, and international expansion as key drivers behind the move.

With a fast-expanding order book and a diversified book of business across electronics, renewables, aerospace, and defense, Zetwerk has completed leading banks such as Axis Capital, Goldman Sachs, and Kotak Mahindra to guide its public listing. The operating revenue of the company grew 25% to ₹14,436 crore in FY24, and its gross merchandise value reached ₹17,564 crore, indicating robust market pace.

Zetwerk's IPO is not only a milestone in terms of finance—it is the beginning of a new chapter for India's manufacturing industry as the company doubles down on domestic production and overseas expansion. As international supply chains shift their focus to India, Zetwerk's IPO is going to make waves among investors and industry observers alike.

Sources: Business Standard, Financial Express, Inc42