Zetwerk files updated IPO papers to raise ₹2,600 crore

India's contract manufacturer Zetwerk has submitted revised IPO documents to raise ₹2,600 crore ($272.47 million) in new capital, aiming to reduce its debt burden. The offering also includes an offer for sale of 96.8 million shares by current investors. The company intends to utilize ₹1,800 crore for debt repayment, with the remaining funds allocated for corporate use and possible acquisitions.

This filing occurs as India's primary market is recovering after a sluggish start to the year, affected by the Middle East conflict and soaring oil prices. Since July, 22 companies have either launched or announced IPOs, compared to around 27 public offerings from January to June. Zetwerk's 2026 revenue reached ₹15,913 crore, but it reported a pre-tax loss of ₹916 crore due to one-off charges.

The company operates over 20 manufacturing sites serving 1,100 customers in electronics, energy, capital goods, aerospace, and defence across more than a dozen countries, including major clients like Schneider Electric, Indian Oil, Siemens, and Acer.