Zetwerk seeks $2.64 billion valuation in $518 million India IPO

Zetwerk Manufacturing Businesses, an India-based manufacturing platform, is seeking a valuation of about $2.64 billion through an initial public offering.

The $518 million share sale is scheduled to open on October 15 and close on October 19, with trading expected to begin on October 23.

Zetwerk makes products under contract for customers including Siemens Gamesa, Acer India, the Indian Air Force and NTPC Renewable Energy.

Its IPO includes newly issued shares and shares being sold by the company’s founders and existing investors, including Peak XV Partners, Lightspeed Venture Partners and Accel India.

The company reported revenue of ₹4,118 crore for the April-to-June quarter, up more than 55% from a year earlier, and a loss of ₹64.129 crore.

The offering comes during a busy period for India’s IPO market, where more than 230 companies had raised $12.65 billion so far in 2026 as of October 7.

Investors can bid for shares during the subscription period, and the planned next step is their expected listing on October 23.