Zetwerk IPO Subscribed 27% On Day 2 So Far, QIB & Retail Portions Booked 32% Each
B2B manufacturing company Zetwerk’s ₹5,012.3 Cr IPO was subscribed 27% on the second day of bidding today. Investors placed bids…
Zetwerk's ₹5,012.3 Cr IPO saw a 27% subscription on the second day of bidding, with 4.95 Cr shares offered against 18.51 Cr shares available. Non-institutional investors subscribed 13% of their quota, while Qualified Institutional Buyers (QIBs) and the retail portion also subscribed 32% and 32% of their respective allocations. Zetwerk's IPO, which opened on September 18, closes on October 19 and aims for a valuation of around ₹25,583 Cr at the upper end.
The company, founded in 2018, offers a full-stack manufacturing platform serving various industries and has raised over $900 Mn in funding. Operating revenue from continuing operations increased 55.4% to ₹4,117.9 Cr, while net loss narrowed 46.4% to ₹733 Cr.
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