Zetwerk opens IPO subscription in India at about 58x adjusted EBITDA
Indian manufacturer Zetwerk is raising around 2,830 crore rupees in its IPO, while TradingView analysts call the valuation expensive.
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what happened
Subscriptions for the IPO of Zetwerk Manufacturing Businesses, an Indian company running a tech-based manufacturing platform, are open until Monday. The company expects to raise 2,830 crore rupees. Another 2,182 crore rupees will go to selling shareholders through an offer for sale, including promoters and existing investors such as Peak XV, Accel and Lightspeed.
The company plans to repay 2,160 crore rupees of debt, out of 3,366 crore rupees as of August 31, 2026, and use the rest for acquisitions and general corporate purposes. According to the company, the promoter stake is expected to fall from about 21% to 16% after the IPO, before ESOP dilution.
why it matters
According to TradingView, at the upper end of the price band Zetwerk is valued at about 24,225 crore rupees, or roughly 58 times FY26 adjusted EBITDA. The company is not yet profitable and has no listed peers, so the authors consider the multiple expensive. For markets, this is a test of investor appetite for tech-driven manufacturing companies in India.
market impact
India IPO market: Zetwerk's valuation becomes a benchmark for new listings of tech-driven manufacturers
tags
instruments
sources
- Should you subscribe to Zetwerk’s IPO? — ru.tradingview.com, 17 October 2026 at 16:21 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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