Zetwerk files final IPO papers, opens October 15
By Abha Lohia ·
Zetwerk: revenue, valuation and funding and every story →
- Zetwerk is a Bengaluru manufacturing platform that connects buyers with factories making machinery, metal and electrical goods
- Its final prospectus lifts the new-share issue to ₹2,830 crore from ₹2,600 crore, and enlarges the share sale by existing holders by 49%
- Bidding runs October 15-19, with anchor investors on October 14; about ₹2,160 crore will repay debt
What happened
- Fresh issue raised to ₹2,830 Cr.
- Share sale grows 49% to 14.45 crore shares.
- Subscription Oct 15-19; anchors Oct 14.
- ₹1,300 Cr repays company debt, ₹860 Cr subsidiary debt.
Why it matters
- Backers Lightspeed, Peak XV, Accel and Kae are selling part of their stakes.
- Most of the fresh money goes to cutting borrowings.
The business
- Manufacturing marketplace and contract production
The founders
Who put in money
- Lightspeed Venture Partners selling — 2.51 crore shares
- Peak XV Partners selling — 2.34 crore shares
- Accel India V selling — up to 1.2 crore shares
What happens next
- Anchor book Oct 14
- Issue Oct 15-19
Words to know
- RHP
- red herring prospectus, the final offer document before an IPO
Other articles talking about it
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the general public and gets listed on a stock exchange. In India the process is supervised by SEBI and ends with the shares trading on the NSE and BSE.
- Anchor investor: Anchor investors are large institutions that buy shares in an IPO one working day before it opens to the public. Their orders signal demand, and part of their shares stay locked in for 30 and 90 days after allotment.
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