Zetwerk, a leading B2B manufacturing platform, is preparing to file its draft red herring prospectus (DRHP) within the next six months. The company aims to raise between $400 million to $500 million through an initial public offering (IPO), targeting a valuation of approximately $5 billion.
Strategic Preparations for IPO
To ensure a smooth listing process, Zetwerk has finalized the appointment of six investment banks to manage the IPO. These include Kotak Mahindra Bank, Jefferies Financial Group, Axis Capital, Goldman Sachs Group, JM Financial, and JPMorgan Chase & Co. The move signals the company’s commitment to executing a successful public offering.
Company Overview
Founded in 2018 by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk has emerged as a critical player in the manufacturing sector. The platform connects businesses with contract manufacturers for custom parts, assemblies, and industrial products across industries such as aerospace, oil and gas, consumer electronics, and infrastructure.
Financial Performance and Growth
As of the fiscal year 2023-2024, Zetwerk reported a Gross Merchandise Value (GMV) of approximately ₹17,564 crore (around $2.1 billion). The company has secured over $700 million in funding from notable venture capital firms, including Lightspeed, Greenoaks Capital, and Mars Growth Capital.
Recent Developments
In December 2024, Zetwerk raised an additional $90 million, bringing its valuation to $3.1 billion. This funding round is expected to support the company’s expansion efforts and strengthen its market position ahead of the IPO.
Our Opinion on the News
Zetwerk’s decision to pursue an IPO reflects its strong growth trajectory and confidence in its business model. The substantial funds raised and the appointment of top-tier investment banks demonstrate a well-structured approach to going public. This move is expected to enhance Zetwerk’s credibility, attract a broader investor base, and open new growth opportunities in the global manufacturing sector.