Manufacturing unicorn Zetwerk sets its IPO price band to raise $518 million, leading a six-company surge targeting 10000 crore rupees in the Indian market.
Indian manufacturing unicorn Zetwerk has officially set the price band for its highly anticipated initial public offering between 143 and 151 rupees per share. The offering aims to raise approximately $518 million, marking a significant milestone in its growth trajectory within the manufacturing sector.
Offering Structure and Market Surge
The unicorn is backed by Peak XV and Accel. The primary market is experiencing a significant surge this week with multiple companies launching offerings.
- Zetwerk: Raising approximately $518 million with a valuation target of $2.6 billion.
- Tonbo Imaging: Launching an IPO as part of the six-company wave.
- Bonfiglioli: Included in the group of six companies launching offerings.
- Total Market Target: Collectively aiming to raise 10,000 crore rupees this week.
The funds generated from the offering are expected to be utilized for scaling operations, enhancing technological infrastructure, and supporting the company’s broader expansion strategy. Six companies in total are launching their IPOs this week, driving heavy activity in the Indian primary market.
