Zetwerk Manufacturing Businesses Limited will open its initial public offering (IPO) for subscription on Thursday, October 15, 2026. The price band has been fixed at ₹143 to ₹151 per equity share, with a face value of ₹1 per share. The offer will close on Monday, October 19, 2026. The bidding period for anchor investors is scheduled for Wednesday, October 14, 2026, one working day before the offer opens to other investors.
Investors can bid for a minimum of 99 equity shares and in multiples of 99 shares thereafter. The floor price and cap price are 143 times and 151 times the face value of the shares, respectively. The IPO comprises a fresh issue of equity shares aggregating up to ₹2,830 crore and an offer for sale of up to 144,525,036 equity shares by existing shareholders. The proceeds from the fresh issue will go to the company, while the offer-for-sale proceeds will go to the selling shareholders.
The offer is being conducted through the book-building process under applicable Securities and Exchange Board of India (SEBI) regulations. At least 75% of the net offer is reserved for qualified institutional buyers (QIBs). Up to 60% of the QIB portion may be allocated to anchor investors on a discretionary basis, subject to regulatory requirements.
Within the anchor investor allocation, 40% is reserved for domestic mutual funds and life insurance companies and pension funds, with 33.33% allocated to domestic mutual funds and 6.67% to life insurance companies and pension funds. The remaining QIB allocation will be distributed in accordance with the applicable rules, including the provision for mutual funds.
Not more than 15% of the net offer will be available for non-institutional bidders, with separate allocation categories based on application size. Retail individual investors can receive up to 10% of the net offer. An employee reservation portion is also provided for eligible employees, subject to valid bids and applicable conditions. Applicants other than anchor investors must use the Application Supported by Blocked Amount (ASBA) process. Investors applying through the Unified Payments Interface (UPI) mechanism must provide their UPI details, where applicable. The equity shares are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited, with NSE designated as the stock exchange for the offer.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, and Pantomath Capital Advisors Private Limited are the book-running lead managers.
