Zetwerk Manufacturing Business IPO subscribed 12% so far on Day 1: Check price band, lot size and key dates

Zetwerk Manufacturing Business IPO has been subscribed 12% so far on the first day of bidding on Thursday, October 15. The issue, with a price band of ₹143 to ₹151 per share, will conclude on October 19.

The ₹5,012.33 crore initial public offering has secured bids for 2,16,09,819 shares compared to 18,50,66,845 shares on offer, according to the NSE data until 3:04 pm.

The initial share sale is a combination of a fresh issue of shares valued at ₹2,830 crore and an offer for sale (OFS) component of 14.45 crore shares worth ₹2,182.33 crore.

Under the OFS, promoters Srinath Ramakkrushnan, Amrit Pratik Acharya and Creovate Innovation, investors Peak XV Partners Investments V, Lightspeed Venture Partners Select IV Mauritius, Accel India V (Mauritius), Kae Capital Fund II, Lightspeed India Partners II, Peak XV Partners Growth Investments III and Kalysta Capital Fund II will offload their stake.

The company intends to use fresh issue to repay debt of the company and its subsidiaries, fund unidentified acquisitions and for general corporate purposes.

Zetwerk Manufacturing IPO: Lot size

The minimum investment for retail investors is 99 shares and in multiples thereafter.

Zetwerk Manufacturing IPO: Allotment and listing date

Before the IPO, the company mobilised ₹2,251.23 crore from anchor investors, including BlackRock, Goldman Sachs, Nomura, Capital Group, First Sentier Investors, Norway's Government Pension Fund Global, Abu Dhabi Investment Authority (ADIA), SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, SBI Life Insurance and ICICI Prudential Life Insurance.

Zetwerk is a technology-led asset-light manufacturing platform for industrial and consumer goods in India and globally. Its operations span electronics, renewable energy, aerospace, AI infrastructure, defence, oil and gas, and industrial automation.

Its customers include Acer India, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, Siemens Gamesa, DRDO, the Indian Air Force and Numaligarh Refinery Ltd.