2 weeks ago

Zetwerk files IPO papers with Sebi to raise ₹2,600 crore

Zetwerk is a company that makes things for other companies, like parts for machines, energy equipment and electronics.

It was started in 2018 by five friends in India.

Zetwerk wants to go public, which means people can buy small parts of the company called shares.

It has asked India's stock market watchdog, Sebi, for permission to sell shares and raise 2,600 crore rupees.

The company borrowed a lot of money and wants to use part of the new money to pay it back.

It will use the rest to grow and maybe buy other companies.

Zetwerk builds products for big names like Schneider Electric, Siemens and Indian Oil.

Last year, the money Zetwerk earned grew a lot, but it still lost money because of some one-time costs.

The company has factories in India, the US, Germany and Spain, and works with thousands of suppliers.

Key facts

IPO fresh issue: ₹2,600 crore (~$272.47 million)
Offer for sale: Up to 9.68 crore shares by promoters and existing shareholders including Peak XV, Accel, Lightspeed and Kae Capital
Use of proceeds: ₹1,800 crore for debt repayment (₹1,250 crore company, ₹550 crore subsidiaries); balance for acquisitions and corporate purposes
FY26 revenue: ₹15,913 crore, up 40.4% from ₹11,332 crore
FY26 adjusted EBITDA: ₹421 crore, up from ₹97 crore in FY24
FY26 pre-tax result: Loss of ₹916 crore on one-off charges
Manufacturing order book: ₹12,370 crore in FY26, up from ₹6,170 crore in FY24
Operations footprint: 26 owned facilities in India, the US, Germany and Spain; 6,979 third-party suppliers; ~30% of manufacturing revenue from international markets

thehindubusinessline.com · 2 weeks ago

theprint.in · 2 weeks ago