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Zetwerk’s strong anchor book signals global confidence

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Zetwerk’s strong anchor book signals global confidence

Zetwerk Manufacturing Businesses has attracted a strong mix of global asset managers, sovereign wealth funds and domestic institutions to its Rs 2,251 crore anchor book ahead of its initial public offering (IPO), with Capital Group emerging as one of the notable names in the allocation.

Two arms of Capital Group — Capital Research and Capital World — received an allocation worth around Rs 288 crore, accounting for nearly 12.88% of the total anchor book. The US-based asset manager is among the largest active investment managers globally, making its participation a key highlight of Zetwerk’s anchor allocation.

The anchor book also saw participation from 3P India Equity Fund, founded by veteran investor Prashant Jain, who previously headed investments at HDFC Mutual Fund for nearly three decades. His participation adds to the domestic investor interest in Zetwerk’s IPO.

The round also saw participation from some of the biggest names in global investing, including BlackRock, Goldman Sachs, Nomura, Société Générale, First State, Loomis Sayles, Manulife, Carmignac, Eastspring Investments, Susquehanna and Prudential Assurance.

Sovereign wealth funds also participated in the anchor book, including Norway’s Government Pension Fund Global and Abu Dhabi Investment Authority (ADIA). Both are long-term institutional investors that invest across markets and asset classes.

The company allotted 14.91 crore equity shares to 99 anchor investors at Rs 151 apiece, the upper end of its price band. The anchor book accounts for around 45% of its Rs 5,012 crore IPO.

Domestic institutions accounted for a significant share of the allocation. 6% of the anchor book, worth approximately Rs 1,027 crore.


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