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Zetwerk’s IPO subscribed over 3 times on final day

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Zetwerk’s IPO subscribed over 3 times on final day

Zetwerk Manufacturing Businesses, a manufacturing platform, saw its IPO subscribed 3.06 times, with investors bidding for 56.54 crore shares against 18.50 crore shares on offer.

Zetwerk's initial public offering (IPO) was open for subscription from October 15-October 19, with a price band of Rs 143-151and a minimum investment of Rs 14,157 for a lot size of 99 shares.

According to exchange data, the qualified institutional buyers (QIBs) portion received the highest demand, with 4.73X subscription, followed by the non-institutional investors (NIIs) category at 1.4X. The employee quota was subscribed 1.58X, while the retail portion saw weaker demand at 0.72X.

According to its RHP, the issue comprises a fresh issue of shares worth Rs 2,830 crore and an offer for sale (OFS) of up to 14.45 crore shares worth Rs 2,182 crore by existing shareholders.

The company plans to use a portion of the fresh issue proceeds to repay debt, with the remaining funds earmarked for acquisitions, strategic investments and general corporate purposes.

Zetwerk’s IPO will also offer an exit route to early investors, with Kae Capital and Kalysta Capital set to earn returns of up to 38X on their investments through the offer for sale (OFS). Lightspeed Venture Partners is the largest external shareholder selling shares worth Rs 426.9 crore, followed by Peak XV Partners, which is offloading shares worth Rs 353.5 crore.

23 crore from anchor investors, with participation from a mix of global investors such as Capital Group, BlackRock, Goldman Sachs and Nomura, alongside domestic investors including SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund.


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