Zetwerk IPO Subscribed 8% On Day 1 So Far
B2B manufacturing company Zetwerk’s ₹5,012.3 Cr IPO got off to a rather slow start today, receiving a mere 8% subscription…
Zetwerk, a B2B manufacturing firm, launched its ₹5,012.3 Cr IPO on its first day with a modest 8% subscription, according to BSE data. Out of 18.51 Cr shares available for purchase, investors placed bids for 1.50 Cr shares. Qualified institutional buyers (QIBs), including mutual funds and global institutions, took the lead in bids with 75.67 Lakh shares, but only managed an 8% subscription of their 9.89 Cr quota.
Retail investors followed, subscribing to 15% of their 51.79 Lakh share allocation. Non-institutional investors (NIIs) contributed 4% to their 5.13 Cr share quota. Post-IPO funding, Zetwerk raised ₹2,251.2 Cr from anchor investors. The company, founded in 2018, offers a full-stack manufacturing platform for various industries. Zetwerk's IPO closes on October 19, with a price band of ₹143-₹151 per share, indicating a valuation of roughly ₹25,583 Cr at the upper end.
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