Zetwerk Manufacturing Businesses raised ₹2,251.23 crore from 99 anchor investors before its IPO opens on October 15. The company allocated shares at ₹151 each. While revenue grew to ₹15,913 crore in FY26, losses widened to ₹1,606 crore. Co-founder Amrit Acharya said the loss was due to one-time, non-cash accounting adjustments.
Zetwerk Manufacturing Businesses has raised ₹2,251.23 crore from 99 anchor investors ahead of its initial public offering (IPO), which opens for subscription on October 15. The company allocated 14.91 crore equity shares at ₹151 apiece, the upper end of its ₹143-151 price band.
The anchor book drew participation from global institutional investors, including BlackRock, Capital Group, Goldman Sachs, Nomura, and Norway’s Government Pension Fund Global, as well as sovereign wealth funds such as the Abu Dhabi Investment Authority. Domestic mutual funds, including SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund, along with several life insurers, also participated.
Of the total anchor allocation, 22 domestic mutual funds received 6.8 crore shares, accounting for 45.62 per cent of demand from the category. Seven life insurance companies received 1.1 crore shares, representing 7.39 per cent of insurers’ demand. The allocation reflects participation from both domestic and overseas institutional investors ahead of the public issue.
The ₹5,012-crore IPO comes as the manufacturing platform reports higher revenue alongside a widening net loss. Zetwerk’s revenue rose nearly 40 per cent to ₹15,913 crore in FY26.
However, its net loss widened to ₹1,606 crore in FY26 from ₹371 crore in the previous year. Co-founder Amrit Acharya attributed much of the increase to one-time, non-cash accounting adjustments following a restructuring of the company’s capital and an increase in founders’ ownership, along with charges linked to its discontinued civil infrastructure business.