Zetwerk Shares List at a 5.5% Premium on NSE Debut
The manufacturing company opened at Rs 159.25 against an issue price of Rs 151.
Key Takeaways
- Zetwerk opened at Rs 159.25 on the NSE, about 5.5% above the Rs 151 issue price.
- The IPO was about Rs 5,012 crore: Rs 2,830 crore fresh issue and Rs 2,182 crore offer for sale.
- Anchor investors put in about Rs 2,251 crore before the issue opened.
- FY26 revenue from continuing operations was Rs 15,913 crore, up 40.4%.
- Part of the fresh issue will repay debt.
Zetwerk shares made a positive debut on the stock exchanges on Friday, opening at Rs 159.25 on the NSE against an issue price of Rs 151, a premium of about 5.5%.
The Rs 5,012 crore issue had a fresh issue of Rs 2,830 crore and an offer for sale worth Rs 2,182 crore. Before it opened, the company raised about Rs 2,251 crore from anchor investors.
Zetwerk listing at a glance
| Detail | Zetwerk |
|---|---|
| Issue price | Rs 151 per share |
| NSE listing price | Rs 159.25 (about 5.5% premium) |
| Total issue size | About Rs 5,012 crore |
| Fresh issue | About Rs 2,830 crore |
| Offer for sale | About Rs 2,182 crore |
| Anchor investors | About Rs 2,251 crore, including Capital Group, BlackRock and Goldman Sachs |
| Base | Bengaluru |
How fast Zetwerk's revenue has grown
Zetwerk is a Bengaluru-based manufacturing company. It reported revenue from continuing operations of Rs 15,913 crore in FY26, up 40.4% from Rs 11,332 crore in FY25.
The company is still working towards profit. In the April to June quarter of FY27, its revenue rose 55% to Rs 4,118 crore, while the loss from continuing operations narrowed to Rs 64 crore from Rs 881 crore a year earlier.
Zetwerk will use the IPO money to cut debt
Part of the fresh issue will be used to repay debt. The rest is set aside for acquisitions, strategic investments and general corporate purposes. Money from the offer for sale goes to the selling shareholders, not to the company.
What Zetwerk's steady debut says about startup IPOs
Large public issues by startup-born companies are still rare in India. A steady debut gives founders and investors a reference point for how the market treats a manufacturing business that has grown fast but is not yet fully profitable.
For small investors, a listing day gain says little about the next few years. Debt, margins and order flow will matter more.
Zetwerk's first test as a listed company: debt and losses
Zetwerk will now report results every quarter as a listed company. Watch how quickly it uses the fresh issue to cut debt and whether the loss from continuing operations keeps shrinking.
