IPO profile
Zetwerk Manufacturing Businesses Limited
ZETWERK · NSE
- Price band
- ₹143 - ₹151
- Subscription
- 1.37x
Application & Issue Details
- Minimum Quantity
- 99 shares
- Minimum Application
- ₹14,949
- Issue Size
- Rs. 5012 Cr
- Face Value
- Not available
- Issue Price
- ₹151
Company Overview
Founded in 2017, Zetwerk is a Bengaluru-based, technology-led platform that aggregates manufacturing capacity. Its software, Zetwerk OS, splits customer orders across 6,979 suppliers in 26 countries, alongside 26 of its own facilities. Products range from solar and wind components and power transformers to laptops, circuit boards, and heavy industrial equipment, for customers like Siemens Gamesa, Acer, NTPC, and DRDO.
Important Dates
- Open Date
- 15 Oct 2026
- Close Date
- 19 Oct 2026
- Allotment Date
- Not available
- Listing Date
- 23 Oct 2026
Issue Timeline
- Issue open date
- Issue close date
- UPI mandate deadline
- Allotment finalization
- Refund initiation
- Share credit
- Listing date
- Mandate end date
- Lock-in end date for anchor investors (50%)
- Lock-in end date for anchor investors (remaining)
Subscription
- QIB
- 1.87x
- NII
- 1.01x
- Retail
- 0.49x
- Total subscribed
- 1.37x
- Shares offered
- 18,50,66,845
- Shares bid
- 25,39,93,509
Updated 25 Oct 2026, 8:02 pm · source: nse
IPOAlerts subscription snapshot updated 20 Oct 2026, 11:00 pm.
Actual Listing Performance
- Listing Date
- 23 Oct 2026
- Actual Listing Price
- ₹159.25
- Gain/Loss Per Share
- +₹8.25
- Gain/Loss Per Lot
- +₹816.75
- Listing Gain/Loss %
- +5.46%
- Measured Against
- ₹151
- Lot Size
- 99 shares
Historical result from the reported listing price, compared with the issue price. Excludes brokerage, taxes and charges.
Company Strengths & Risks
Reported strengths
- Asset-light model: about 80% of FY26 revenue came from products made by third-party suppliers.
- Zetwerk’s flexible capacity helps it deliver faster, without any large capital commitments.
- Strong order pipeline: a ₹13,062 crore manufacturing order book (June 30, 2026), about 1.4x FY26 manufacturing revenue.
- Repeat business: 80% of FY26 manufacturing revenue came from existing customers.
- Blue-chip customers: 16 of the Nifty 50 companies and 102 of India’s Fortune 500.
- Diversified: spans energy (69% of manufacturing revenue), capital goods (16%) and precision electronics (15%).
Key risks
- Still loss-making: losses in every period shown, and negative operating cash flow every year.
- Supplier dependence: quality, capacity, or supply problems at third-party suppliers would directly hit deliveries.
- Customer concentration: the top 10 customers’ share of revenue rose from 22% in FY24 to 36% in FY26.
- Exposed to geopolitical and tariff risks in global markets.
- Pending legal proceedings could lead to adverse outcomes.
Company strengths and risks are informational summaries. Review the offer document for complete disclosures.
Documents & Coverage
IPO data last updated 25 Oct 2026, 8:02 pm IST · GMP: ipoalerts · subscription: nse · listing price: NSE/BSE
This page is for informational and educational purposes only. It is not investment advice and not a recommendation to buy, sell, or apply for this IPO. GMP and subscription figures are unofficial/may change. Please make your own independent decision.