Zetwerk eyes nearly ₹500 cr pre-IPO round, files draft papers confidentially

Bengaluru-based contract manufacturing company Zetwerk is looking to raise nearly ₹500 crore in a pre-IPO funding round, according to sources familiar with the matter.

The company has filed its draft papers through the confidential route and has appointed bankers including Kotak Mahindra Capital, JM Financial, Avendus Capital, and the Indian units of HSBC, Morgan Stanley, and Goldman Sachs to manage the issue.

Zetwerk has raised a total equity funding of $859 million so far. It is currently valued at around ₹10,500 crore (post-money), according to data from Tracxn. The company reported revenue of ₹12,980.7 crore in FY25, while net losses narrowed to ₹370.7 crore, down 60% from the previous year.

As part of its expansion, Zetwerk recently set up a defence electronics manufacturing facility in Devanahalli, Bengaluru, with an investment of ₹100 crore. The 100,000 sq ft facility is equipped with state-of-the-art SMT and FATP lines, catering to the defence and automotive sectors, and is expected to generate around 1,200 jobs.

Founded in May 2018 by IIT graduates Amrit Acharya, Srinath Ramakkrushnan, Vishal Chaudhary, Rahul Sharma, and Ankit Fatehpuria, Zetwerk started as a manufacturing marketplace for industrial goods. It has since evolved into a global contract manufacturing player with operations spanning electronics, aerospace, defence, renewable energy, oil & gas, and infrastructure.

Published on March 30, 2026