Shares of Zetwerk Manufacturing Businesses Ltd made their trading debut on Friday, October 23, listing at ₹159.25 on the National Stock Exchange — a 5.5 per cent premium over the issue price of ₹151 — following the company's $518 million initial public offering, Reuters reported.

Source: TradingView (Reuters)

The Bengaluru-headquartered contract manufacturing and industrial procurement platform completed a ₹5,012.33 crore share sale earlier this week. At the upper end of the ₹143–₹151 price band, the issue valued the company at approximately ₹25,583 crore ($2.69 billion), Flash Finance reported in its listing-day coverage published at 10:01 am IST.

Source: Flash Finance

₹159.25NSE listing price on debut
5.46%premium over the ₹151 issue price
$518 mnsize of the IPO (₹5,012.33 crore)
₹25,583 crvaluation at the upper price band

How the IPO was structured

The offer comprised a fresh issue of shares worth ₹2,830 crore alongside an offer for sale of 14.45 crore equity shares amounting to ₹2,182.33 crore by existing promoters and investors, according to Flash Finance. Ahead of the public bidding window, Zetwerk raised ₹2,251.23 crore from 99 anchor investors, including Capital Group, BlackRock and Goldman Sachs, the report said.

Subscription diverged sharply across investor classes before the issue crossed the line on the final day of bidding: qualified institutional buyers bid 1.63 times their allotted quota, non-institutional investors 0.79 times, and retail individual investors 0.51 times, according to Flash Finance. The offer for sale included partial divestments by Peak XV Partners, Accel India and Lightspeed, along with co-founders Amrit Acharya and Srinath Ramakkrushnan.

What Zetwerk does

Zetwerk runs a technology-driven platform that connects businesses needing manufactured components with a network of precision-engineering workshops — a listing that gives public investors exposure to a venture-backed manufacturing-technology company rather than a conventional consumer internet platform.