Zetwerk eyes $2.6bn valuation in $518mn Indian IPO debut

Zetwerk, a contract electronics and precision engineering manufacturer, is moving ahead with its initial public offering in India at an estimated valuation of $2.6 billion. The IPO will comprise an issue of $518 million in fresh equity, marking a significant milestone for the company in its journey to becoming a publicly listed enterprise.

The offering is scheduled to open for public subscription on October 15 and will close on October 19. Following the completion of the subscription period and regulatory approvals, the company's shares are expected to commence trading on October 23 on Indian stock exchanges.

Zetwerk has secured backing from prominent venture capital firms Peak XV Partners and Accel, which have supported the company's expansion across India and Southeast Asia. The contract manufacturer specializes in producing components and assemblies for automotive, aerospace, consumer electronics, and industrial applications.

The IPO comes as Indian technology and manufacturing companies continue to attract investor interest, with several startups transitioning from private funding rounds to public markets. The listing will provide Zetwerk with additional capital to expand its manufacturing capabilities and strengthen its market position in the precision engineering sector.