Incorporated in 2017, Zetwerk Manufacturing Businesses Private Limited is a technology-led global manufacturing platform. The Company operates as a managed marketplace connecting industrial and consumer enterprises with a global network of manufacturing partners for custom and large-scale production requirements
The company serves across sizes, from innovative startups to mature companies, and across industries, including utilities, renewables, consumer electronics, artificial intelligence infrastructure, aerospace, space & defence, oil & gas, and industrial automation.
The Company follows an asset-light business model and provides end-to-end solutions, including design, supplier matching, quality control, and logistics. The Company’s proprietary platform, Zetwerk OS, enables real-time tracking and transparency across the manufacturing lifecycle. Its key strengths include scalable manufacturing capacity, strong quality control systems, faster delivery timelines, and a diversified global customer base.
It operates across key sectors such as electronics, renewable energy, aerospace and defence, capital goods, and precision manufacturing. Zetwerk has a presence in over 25 countries and a network of 10,000+ suppliers and 1,100+ customers, including Fortune 500 companies. It also operates 20+ manufacturing facilities across India, the United States, and Mexico.
In Fiscal 2026, the company had 1,802 customers, comprising 1,613 customers within India and 189 customers outside India.
Competitive Strengths:
Zetwerk Manufacturing Business Ltd.’s revenue increased by 40% and profit after tax (PAT) dropped by 333% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|---|
| Assets | 12,016.09 | 13,384.63 | 9,083.09 | 10,355.43 | 10,330.85 |
| Total Income | 4,195.70 | 16,100.63 | 2,702.10 | 11,492.23 | 12,523.46 |
| Profit After Tax | -732.98 | -1,606.17 | -1,368.47 | -370.71 | -917.95 |
| EBITDA | 103.16 | 421.34 | 31.11 | 322.59 | 97.03 |
| NET Worth | 4,094.13 | 4,813.72 | 3,905.13 | 4,453.76 | 4,062.46 |
| Reserves and Surplus | -771.23 | -15.96 | 3,803.94 | 4,355.22 | 4,025.00 |
| Total Borrowing | 1,942.19 | 1,936.16 | 1,707.21 | 1,746.55 | 1,232.10 |
| Amount in ₹ Crore | |||||
Note:- Adjusted EBITDA
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| SRIT India Ltd. | Mainboard | ₹218.40 Cr | ₹130 | 14.25 | ₹155.09 | +19.30% | ₹132.99 |
| ArMee Infotech Ltd. | Mainboard | ₹300.00 Cr | ₹375 | 19.57 | ₹300.00 | -20.00% | ₹253.90 |
| ESDS Software Solution Ltd. | Mainboard | ₹720.00 Cr | ₹429 | 35.66 | ₹908.40 | +111.75% | ₹1,498.20 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in part or full, of certain of or all of borrowings availed by the company | 1,300.00 |
| 2 | Funding inorganic growth through unidentified acquisitions and other strategic acquisitions | |
| 3 | General Corporate Purposes | |
| 4 | Repayment/prepayment, in part or full, of certain of or all of borrowings availed | 860.00 |
| Total | 2,160.00 |
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| RoNW | -1.74% | -21.11% |
| NAV | 25.85 | 31.26 |
| P/B (x) | 4.83 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | -10.66 | |
| P/E (x) | -14.17 |
| IPO Date | 15 to 19 Oct, 2026 |
| Listing Date | Fri, Oct 23, 2026T |
| Face Value | ₹1 per share |
| Price Band | ₹143 to ₹151 |
| Lot Size | 99 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹14.00 |
| Total Issue Size | 33,20,07,155 shares (agg. up to ₹5,012 Cr) |
| Fresh Issue | 18,74,82,119 shares (agg. up to ₹2,830 Cr) |
| Offer for Sale | 14,45,25,036 shares of ₹1 (agg. up to ₹2,182 Cr) |
| Share Holding Pre Issue | 1,50,67,72,659 shares |
| Share Holding Post Issue | 1,69,42,54,778 shares |
The promoters of the company are Amrit Pratik Acharya and Srinath Ramakkrushnan
| Share Holding Pre Issue | 15.86% |
| Share Holding Post Issue | 11.36% |
As per our analysis and Based on the information we have, this is the output.
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