Zetwerk files for IPO
Indian contract electronics and manufacturing player Zetwerk confidentially filed for a roughly $550 million IPO targeting a $4 billion valuation, signaling continued investment interest in regional electronics supply capacity. The planned listing could accelerate contract manufacturing options in Asia. (telecom.economictimes.indiatimes.com)
Zetwerk has appointed Kotak Mahindra as lead banker and engaged Morgan Stanley, Goldman Sachs, Pantomath, JM Financial and HSBC to manage its IPO process. (moneycontrol.com) The planned offering will combine fresh equity and an offer-for-sale, with roughly $300 million earmarked for new shares, and the company is aiming for a listing later this year. (moneycontrol.com) Zetwerk reported gross merchandise value of Rs 17,564 crore for FY2023-24 and completed a near-$90 million funding round in 2024 that lifted its valuation to about $3.1 billion. (business-standard.com) The firm has publicly earmarked Rs 1,000 crore to expand its electronics division and plans to scale PCB and surface-mount technology capacity from 16 assembly lines to about 60 across multiple sites. (economictimes.indiatimes.com) Zetwerk inaugurated a new advanced electronics manufacturing facility in Bengaluru on February 8, 2026, with Union Minister Ashwini Vaishnaw attending the ceremony. (manufacturingtodayindia.com) Company disclosures and its website list a global footprint of more than ten facilities across India, the United States, Mexico and Europe and a supplier network exceeding 10,000 firms. (zetwerk.com) Reporting from late 2025 shows the IPO planning has been underway for months, when Zetwerk had already mandated banks including Kotak, Morgan Stanley, Avendus, Goldman Sachs, JM Financial and HSBC to conduct valuation work. (communicationstoday.co.in)
