ZETWERK · NSE · Mainboard
Zetwerk Manufacturing Businesses Limited.
View on Screener ↗Unclassified · Closed
Financial Performance
Amounts in ₹ crore; EPS in ₹ per share. PAT is total profit for the period, including non-controlling interests. Standalone statements.
Source temporarily unavailable for this period and basis.
01 · UNDERSTAND THE BUSINESS
The company in 60 seconds
Founded in 2017, Zetwerk is a Bengaluru-based, technology-led platform that aggregates manufacturing capacity. Its software, Zetwerk OS, splits customer orders across 6,979 suppliers in 26 countries, alongside 26 of its own facilities. Products range from solar and wind components and power transformers to laptops, circuit boards, and heavy industrial equipment, for customers like Siemens Gamesa, Acer, NTPC, and DRDO.
What supports the business
- Asset-light model: about 80% of FY26 revenue came from products made by third-party suppliers.
- Zetwerk’s flexible capacity helps it deliver faster, without any large capital commitments.
- Strong order pipeline: a ₹13,062 crore manufacturing order book (June 30, 2026), about 1.4x FY26 manufacturing revenue.
- Repeat business: 80% of FY26 manufacturing revenue came from existing customers.
- Blue-chip customers: 16 of the Nifty 50 companies and 102 of India’s Fortune 500.
- Diversified: spans energy (69% of manufacturing revenue), capital goods (16%) and precision electronics (15%).
What could go wrong
- Still loss-making: losses in every period shown, and negative operating cash flow every year.
- Supplier dependence: quality, capacity, or supply problems at third-party suppliers would directly hit deliveries.
- Customer concentration: the top 10 customers’ share of revenue rose from 22% in FY24 to 36% in FY26.
- Exposed to geopolitical and tariff risks in global markets.
- Pending legal proceedings could lead to adverse outcomes.
Where will the IPO money go?
Use of proceeds is awaiting review.
Fresh issue proceeds go to the company. Offer-for-sale proceeds go to the selling shareholders.
Provider content · IPOALERTS · Not independently reviewed · Retrieved 16 Oct 2026, 11:00 pm IST · Data source ↗
A research starting point, not an apply/avoid recommendation.
02 · PREPARE YOUR APPLICATION
How much will be blocked?
Category rules pending · Mainboard
Applications are closed. This is a reference calculation.
Application rules are awaiting review. Check the issue prospectus or your broker.
Before you finish applying 0/5
Your personal checklist for this visit. MeraIPO cannot verify or submit an application.
All checked? This still does not guarantee allotment. If a UPI mandate is missing, contact the broker or intermediary you used. ASBA through a bank may not use UPI.
Application help from NSE ↗03 · KEEP TRACK
Dates that matter
Tentative · check for changes- Applications open15 Oct 2026
- Applications close19 Oct 2026
- Accept UPI mandate byTo be announced
- Allotment expectedTo be announced
- Unblocking startsTo be announced
- Expected listing23 Oct 2026
All times are IST. Your broker may stop accepting bids earlier. Unblocking is an initiation date; bank processing times can differ.
Add dates to calendar ↓Import these dates into your calendar. Saved dates will not update automatically if the schedule changes.
Full provider schedule
- Issue open date: 15 Oct 2026
- Issue close date: 19 Oct 2026
- UPI mandate deadline: 19 Oct 2026
- Allotment finalization: 21 Oct 2026
- Refund initiation: 22 Oct 2026
- Share credit: 22 Oct 2026
- Listing date: 23 Oct 2026
- Mandate end date: 3 Nov 2026
- Lock-in end date for anchor investors (50%): 19 Nov 2026
- Lock-in end date for anchor investors (remaining): 18 Jan 2027
Dates supplied by IPOALERTS; no deadline time was provided. Check the issue source.
Did you get shares?
The official registrar link is awaiting verification.
UPI mandate missing?
Check your UPI app and application status with the broker or bank you used. Contact that intermediary before the applicable deadline. Submitting a bid alone does not confirm that funds were blocked.
NSE application guidance ↗Market interest
Subscription
- Institutional (QIB)
- 4.73×
- Nii
- 1.4×
- Retail applicants
- 0.73×
- Employee
- 1.59×
- Total
- 3.06×
Bids received relative to shares offered. Higher subscription does not guarantee returns.
Updated 19 Oct 2026, 7:00 pm IST · NSE_CONSOLIDATED ↗
Unofficial GMP
₹3.5
Implied price: ₹154.5
An unofficial indication, not an exchange quote or a forecast. Listing prices may differ substantially.
19 Oct 2026, 10:55 pm IST · Stale
Financial history & source documents
BUSINESS VS PRICE
Insufficient Data / Price pending
Two comparable YoY results and EBITDA margins are required.
The quarterly journey
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Quarterly results are not available yet. The original IPO baseline is retained separately.
“—” means unavailable, not zero. Year-on-year growth requires a positive comparable period. Cash flow is shown only when reported for that period.
Annual financial history · latest four years
Separate from the original pre-IPO baseline. Amounts in ₹ crore; EPS in ₹.
No annual filings have been imported yet.
Stock journey
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Valuation snapshot
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Sources & further research
Filing sources & update times
Source and verification record
Rhp url ↗ · Unverified · 16 Oct 2026, 11:01 pm IST
Exchange url ↗ · Unverified · 16 Oct 2026, 11:01 pm IST
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Rhp url ↗ · Unverified · 16 Oct 2026, 5:13 pm IST
Exchange url ↗ · Unverified · 16 Oct 2026, 5:13 pm IST
Issue size ↗ · Unverified · 16 Oct 2026, 5:13 pm IST
Lot size ↗ · Unverified · 16 Oct 2026, 5:13 pm IST
Price high ↗ · Unverified · 16 Oct 2026, 5:13 pm IST