Zetwerk Manufacturing IPO subscribed 2.75 times so far on Day 3; check allotment date and steps

The initial public offering of Zetwerk Manufacturing Businesses Ltd has been subscribed 2.75 times so far on the final day of bidding on Monday, October 19.

The IPO received bids for 50,81,81,157 shares against 18,50,66,845 shares on offer, as per data available with the NSE until 3:32 pm.

The quota for qualified institutional buyers (QIBs) secured 4.28 times subscription, while the portion for retail investors was subscribed 58%. The category for non-institutional investors received 1.24 times subscription.

The ₹5,012.33 crore initial share sale consists of a fresh issuance of shares worth ₹2,830 crore and an offer for sale (OFS) component of 14.45 crore shares totalling ₹2,182.33 crore by existing shareholders.

Promoters Srinath Ramakkrushnan and Amrit Pratik Acharya, along with promoter group entity Creovate Innovation, are among the shareholders selling equity shares in the OFS. Investors Accel, Peak XV, Lightspeed and Kae Capital are also participating in the offer.

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

Founded in 2018, Zetwerk is a technology-led global manufacturing platform. Its operations span electronics, aerospace, renewable energy, defence, oil and gas, AI infrastructure and industrial automation.

The company is backed by investors including Khosla Ventures, Rakesh Gangwal, Accel, Baillie Gifford, Peak XV and Lightspeed.

Zetwerk has 26 owned manufacturing facilities across India, Germany, the US, and Spain, and works with third-party suppliers across multiple countries.

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

Zetwerk IPO allotment and listing date

Zetwerk IPO allotment status is likely to be finalised on Wednesday, October 21. The listing on the BSE and the NSE will take place on October 23.

How to check Zetwerk Manufacturing Businesses IPO allotment status on NSE

• Go to this website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Pick ‘Equity & SME IPO bid details’
• Select 'ZETWERK' from the 'Select Symbol' menu
• Fill in your application number or PAN
• Click the 'Submit' button

Steps to check Zetwerk Manufacturing Businesses IPO allotment status on KFin Technologies

• Open this page: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ list, pick ‘Zetwerk Manufacturing Businesses Ltd’
• Identify yourself using your PAN, IPO application number or Demat account number
• Click on ‘Submit’