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Zetwerk IPO
Price Band
₹143.0–151.0
Issue Size
₹5012.33 Cr
Lot Size
99 shares
Min Investment
₹14,949
GMP
+₹1.0 (0.66%)
Issue Price
₹151.0
Subject to Sauda
₹100
Paid only if allotted
Zetwerk IPO AI Summary
- Zetwerk IPO is listed on BSE, NSE in the IT Enabled Services sector.
- Price band: ₹143.0–₹151.0 per share, lot size 99 shares (min. investment ₹14,949).
- Subscription window: 15 Oct–19 Oct 2026, listing on 23 Oct 2026.
- Current GMP is +₹1.0 (0.66%), an estimated listing price of ₹152 — unofficial and can change daily.
Zetwerk is a technology-driven manufacturing platform with a global reach, focusing on connecting businesses with manufacturing partners. The IPO aims to raise funds for debt repayment, subsidiary investments, and growth initiatives. The company has shown a decrease in total income and continues to operate at a loss, which potential investors should consider carefully.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Zetwerk IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 19 Oct 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
3.10x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
4.71x
|
4.71x |
| NII (HNI) |
1.45x
|
1.45x |
| ↳ bNII (>₹10L) |
1.74x
|
1.74x |
| ↳ sNII (<₹10L) |
0.86x
|
0.86x |
| Retail (RII) |
0.77x
|
0.77x |
| Employee |
1.59x
|
1.59x |
| Total | 3.10x | 3.10x |
Auto-updated every 5 min · As of 19th Oct 2026 17:56
Zetwerk IPO Grey Market Premium (GMP) Today
GMP
+₹1.0
GMP %
+0.66%
Est. Listing
₹152.0
Updated: 23 Oct 2026 06:00
GMP Trend (Last 11 Days)
About the Company
Incorporated in 2017, Zetwerk Manufacturing Businesses Private Limited is a technology-led global manufacturing platform. The Company operates as a managed marketplace connecting industrial and consumer enterprises with a global network of manufacturing partners for custom and large-scale production requirements. The company serves across sizes, from innovative startups to mature companies, and across industries, including utilities, renewables, consumer electronics, artificial intelligence infrastructure, aerospace, space & defence, oil & gas, and industrial automation. The Company follows an asset-light business model and provides end-to-end solutions, including design, supplier matching, quality control, and logistics. The Company’s proprietary platform, Zetwerk OS, enables real-time tracking and transparency across the manufacturing lifecycle. Its key strengths include scalable manufacturing capacity, strong quality control systems, faster delivery timelines, and a diversified global customer base. It operates across key sectors such as electronics, renewable energy, aerospace and defence, capital goods, and precision manufacturing. Zetwerk has a presence in over 25 countries and a network of 10,000+ suppliers and 1,100+ customers, including Fortune 500 companies. It also operates 20+ manufacturing facilities across India, the United States, and Mexico. In Fiscal 2026, the company had 1,802 customers, comprising 1,613 customers within India and 189 customers outside India. Competitive Strengths: Unique business model enables us to serve multiple demand pools and makes them resilient across economic cycles Building Capabilities to Serve Multiple Industry Verticals Ability to scale in a capital-efficient manner Zetwerk OS, their proprietary technology enables end‑to-end workflow management across the manufacturing lifecycle while driving powerful network effects across their operations Deep relationships with customers driving higher revenue visibility and stickiness Ability to add value-additive ecosystem services to the manufacturing platform Experienced, cycle-tested management team backed by an experienced board of directors
Company Financials (₹ Cr)
As of 2026-06-30
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|---|
| Assets | 12,016.09 | 13,384.63 | 9,083.09 | 10,355.43 | 10,330.85 |
| Total Income | 4,195.70 | 16,100.63 | 2,702.10 | 11,492.23 | 12,523.46 |
| Profit After Tax | -732.98 | -1,606.17 | -1,368.47 | -370.71 | -917.95 |
| EBITDA | 103.16 | 421.34 | 31.11 | 322.59 | 97.03 |
| NET Worth | 4,094.13 | 4,813.72 | 3,905.13 | 4,453.76 | 4,062.46 |
| Reserves and Surplus | -771.23 | -15.96 | 3,803.94 | 4,355.22 | 4,025.00 |
| Total Borrowing | 1,942.19 | 1,936.16 | 1,707.21 | 1,746.55 | 1,232.10 |
Key Ratios
EPS
₹-10.66
NAV
₹31.26
RoNW
-21.11%
P/B Value
4.83
P/E Ratio
-14.17
Market Cap
₹25583.25 Cr
Promoters
Amrit Pratik Acharya, Srinath Ramakkrushnan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/prepayment, in part or full, of certain of or all of borrowings availed by the company 1,300.00 2 Certain of our Subsidiaries, namely, (i) Sharp Tanks and Structurals Private Limited; (ii) Terra91 International Private Limited; (iii) Smile Electronics Limited; (iv) Kryfs Power Components Limited; (v) Kryfs Transformers Private Limited; (vi) Unimacts Global LLC; (vii) Zetwerk Manufacturing SG Pte. Ltd.; (viii) Zap91 Solar India Private Limited; and (ix) Zet Town India Private Limited through investments in such Subsidiaries 860.00 3 Funding inorganic growth through unidentified acquisitions and other strategic acquisitions, and general corporate purposes 533.84 4 Issue Expenses 241.13 | Total 2,934.96
IPO Evaluation
Generated 24 Oct 2026Revenue Trend
Total income was ₹4,195.70 Cr in the period ending 30 Jun 2026, down from ₹16,100.63 Cr for the year ending 31 Mar 2026. This significant decrease is primarily due to the recent 9-month reporting period, which is not directly comparable to the full fiscal year figures.
Profit Trend
The profit after tax was -₹732.98 Cr for the period ending 30 Jun 2026, compared to a loss of -₹1,606.17 Cr for the year ending 31 Mar 2026. This indicates a reduction in losses, though the figures are from different reporting periods.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which shares are expected to trade in the grey market before listing. A positive GMP suggests that there is demand for the shares, while a negative or low GMP may indicate weaker demand.
Subscription Demand
As of 19th October 2026, the IPO was subscribed 3.1 times overall. The institutional category saw strong interest, with QIBs subscribing 4.71 times and NII subscribing 1.45 times. Retail investors subscribed 0.77 times, indicating varied interest across different investor categories.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health. It's essential to consider the overall market conditions and the company's performance metrics.
Who May Want to Wait
Investors who prefer stable returns and lower risk may want to avoid this IPO, especially given the company's current financial losses and the inherent risks associated with investing in new and rapidly evolving sectors.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 15th October 2026 and closes on 19th October 2026. Allotment of shares is expected on 21st October 2026, with the listing date set for 23rd October 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor could make when shares are listed on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from Zetwerk's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Zetwerk IPO GMP today?
Zetwerk IPO GMP today is +₹1.0 (0.66%), indicating an estimated listing price of ₹152. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Zetwerk IPO?
The price band of Zetwerk IPO is ₹143.0–₹151.0 per share.
When does Zetwerk IPO open and close?
Zetwerk IPO opens on 15 October 2026 and closes on 19 October 2026.
When does Zetwerk IPO list on the stock exchange?
Zetwerk IPO listed on 23 October 2026 at ₹152.0.
What is the lot size for Zetwerk IPO?
The lot size for Zetwerk IPO is 99 shares, requiring a minimum investment of ₹14,949.
What is the price band for the Zetwerk IPO?
The price band for the Zetwerk IPO is ₹143 to ₹151.
What is the minimum investment required?
The minimum investment required is ₹14,949.
What is the lot size for the IPO?
The lot size for the Zetwerk IPO is 99 shares.
When is the listing date for the IPO?
The listing date for the IPO is 23rd October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which shares will trade in the grey market before their official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Oct 2026
Close
19 Oct 2026
Allotment
21 Oct 2026
Listing
23 Oct 2026
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