Zetwerk Manufacturing Businesses’ ₹5,012.33 crore IPO entered its final day of subscription on October 19, 2026, with the price band fixed at ₹143 to ₹151 per share. As of 10:10 AM on Day 3, the issue was subscribed 0.32 times.

The basis of allotment is expected to be finalised on October 21. The company’s shares are tentatively scheduled to list on the BSE and NSE on October 23, 2026.

Zetwerk Manufacturing Businesses IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹5,012.33 crore
Fresh Issue: Up to ₹2,830 crore
Offer for Sale (OFS): Up to ₹2,182.33 crore
Face Value: ₹1 per equity share
Price Band: ₹143 to ₹151 per share
Lot Size: 99 shares
Minimum Investment Amount (Retail Investor): ₹14,949 (99 shares at the upper price)
Listing: BSE, NSE
Book Running Lead Managers: Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Goldman Sachs (India) Securities Private Limited, Avendus Capital Private Limited, JM Financial Limited, HSBC Securities and Capital Markets (India) Private Limited, Pantomath Capital Advisors Private Limited
Registrar: KFin Technologies Limited

Zetwerk Manufacturing Businesses IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	15 October 2026
Subscription Closing Date	19 October 2026
Basis of Allotment Date	21 October 2026
Refund Initiation Date	22 October 2026
Credit of Shares	22 October 2026
Listing on BSE and NSE	23 October 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Zetwerk Manufacturing Businesses IPO Day 3 Subscription Status

[October 19, 2026, 10:10 A.M.]

Category	Subscription (x)
Qualified Institutional Buyers (QIBs)	0.37x
Non-Institutional Investors (NIIs)	0.20x
Retail Individual Investors (RIIs)	0.37x
Employees	0.51x
Total	0.32x

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Repayment/prepayment, in part or full, of certain of or all of borrowings availed by:

the company
certain of its subsidiaries, namely,

Sharp Tanks and Structurals Private Limited
Terra91 International Private Limited
Smile Electronics Limited
Kryfs Power Components Limited
Kryfs Transformers Private Limited
Unimacts Global LLC; (vii) Zetwerk Manufacturing Businesses Manufacturing SG Pte. Ltd
Zap91 Solar India Private Limited
Zet Town India Private Limited through investments in such Subsidiaries

Funding inorganic growth through unidentified acquisitions and other strategic acquisitions
General corporate purposes.

About Zetwerk Manufacturing Businesses Limited

Established in 2017, Zetwerk Manufacturing Businesses Limited operates a technology-enabled, asset-light manufacturing platform that connects businesses with third-party suppliers and its own manufacturing facilities. It serves sectors including renewable energy, consumer electronics, aerospace, defence, AI infrastructure and industrial automation. Its clients include Siemens Gamesa, boAt, Acer India, CG Power and NTPC Renewable Energy. The company’s global supplier network spans India, Vietnam, Thailand, Taiwan, Germany, Spain, Mexico and the US, with capabilities in metal fabrication, die casting, forging and machining.

Key Financial Highlights

Particulars	For the three month period ended June 30, 2026 (in ₹ crore)	FY26 (in ₹ crore)	FY25 (in ₹ crore)
Revenue from operations	41,178.77	15,913.32	11,331.86
EBITDA	103.16	421.34	322.59
Profit After Tax (PAT)	(732.98)	(1,606.17)	(370.71)