Zetwerk Plans IPO to Raise Up to $525 Million

Zetwerk Pvt., a manufacturing platform based in Bengaluru, plans to launch an initial public offering as early as next week. The company targets a valuation of 270 billion rupees, or approximately $2.8 billion, and expects to raise up to $525 million. The sale is scheduled to open on October 15, with a listing date set for October 23.

This offering comes during a record-breaking period for Indian public listings. Between January and September 2026, Indian companies raised $12.5 billion, marking the highest total for that period since 1980. This surge in fundraising was driven by larger issue sizes, even as the Nifty index declined by 14 percent and foreign portfolio investors engaged in significant selling.

While total fundraising has reached historic highs, market conditions have shifted slightly. Average listing premiums moderated in September, dropping to 15.1 percent from 24.4 percent in August. The Securities and Exchange Board of India has already granted IPO approval to more than 130 companies during this cycle.