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Zetwerk’s IPO Fully Subscribed On Day 3, Gets Muted Response From Retail Investors

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Zetwerk’s IPO Fully Subscribed On Day 3, Gets Muted Response From Retail Investors

B2B manufacturing company Zetwerk’s ₹5,012.3 Cr IPO has been oversubscribed on the final day of bidding, receiving bids for 19.83 Cr shares against the 18.51 Cr shares on offer. This translates to an oversubscription of 1.07X, as per BSE data on 13:45 IST.

Qualified institutional buyers (QIBs) have shown the highest interest in the IPO, oversubscribing their quota by 1.44X. These investors have placed bids for 14.28 Cr shares against 9.89 Cr shares on offer till now.

Following QIBs, non-institutional investors (NIIs) have placed bids for 3.74 Cr shares against 5.13 Cr shares reserved for them, subscribing their quota by 73%. Within the NII category, the portions for bids above ₹2 Lakh and up to ₹10 Lakh was subscribed 36%, and those above ₹10 Lakh subscribed 91%.

The retail portion was also subscribed 51%, attracting bids for 1.71 Cr shares against an allocation of 3.42 Cr shares.

Meanwhile, employees bid for 7.8 Lakh shares against 7 Lakh shares reserved for them, oversubscribing by 1.12X of their quota.

The company has set a price band of ₹143-₹151 per share, implying a valuation of around ₹25,583 Cr (about $2.7 Bn) at the upper end.

3 Cr at the upper end. 2 Cr from anchor investors . Domestic mutual funds, including SBI Mutual Fund and ICICI Prudential Mutual Fund, accounted for around 46% of the anchor book. Global institutional investors, including Goldman Sachs, BlackRock, and ADIA, also participated.



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