Zetwerk Manufacturing Businesses Ltd IPO
Status: Closed
Overview
IPO date
15 Oct 2026 to 19 Oct 2026
Face value
₹ 0 per share
Price
₹ 143 to ₹151 per share
Issue Size
331,942,254 shares
(aggregating up to ₹ 5012.33 Cr)
(aggregating up to ₹ 5012.33 Cr)
Allotment Date
21 Oct 2026
Listing at
NSE
Issue type
Book Building
Sector
Mining & Mineral products
Unlock Stock of the Month
T&C*
Strengths vs Risks of Zetwerk Manufacturing Businesses Ltd
Know the pros & cons
Strengths
- Our unique business model enables us to serve multiple demand pools and makes us resilient across economic cycles
- Ability to scale in a capital-efficient manner.
- Zetwerk OS, our proprietary technology enables end-to-end workflow management across the manufacturing lifecycle while driving powerful network effects across our operations.
- Deep relationships with customers driving higher revenue visibility and stickiness.
- Ability to add value-additive ecosystem services to our manufacturing platform.
- Experienced, cycle-tested management team backed by an experienced board of directors.
- Comprehensive and institutionalised risk management framework with strong protection against external risks.
Risks
- The company incurred a restated loss for the period/year from continuing operations of Rs.641.29 million, Rs.8,806.65 million, Rs.9,643.93 million, Rs.2,150.69 million and Rs.8,525.31 million for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively, and certain of its Subsidiaries have incurred losses in the past. Any similar losses in the future may adversely affect the company's business, financial condition and cash flows.
- The company relies on third-party suppliers for manufacturing and raw materials, and exposure to price volatility, capacity and quality issues, supply disruptions, and trade and foreign exchange risks could adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- The company is dependent on the performance of the industries its customers operates in, including renewables, artificial intelligence infrastructure, oil & gas, consumer electronics, and defence & aerospace industries, and a downturn in any of these industries could adversely affect the company's business.
- The company's revenue from operations - continuing operations from India accounted for 83.53%, 77.29%, 82.54%, 79.41% and 75.43% and its revenue from operations - continuing operations from the USA accounted for 12.77%, 20.44%, 14.33%, 19.09% and 21.54% of the company's revenue from operations - continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively, each based on Ind AS 108 Operating Segments. Any adverse economic or regulatory changes that negatively affect the demand for its products in India and the USA could adversely affect the company's business, financial condition, cash flows and results of operations.
- The company's top 10 suppliers contributed 40.71%, 37.59%, 38.18%, 39.59% and 36.87% of its total expenses for continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively. Any disruption in the supply or quality from these suppliers could adversely affect the company's business, results of operations, financial condition, cash flows, and reputation.
- The company's statutory auditors have included certain emphasis of matters and modifications under the section "Report on Other Legal and Regulatory Requirements" in their auditor reports in the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024.
- The company's top 10 customers accounted for 29.39%, 34.26%, 35.90%, 26.89% and 22.37% of its revenue from operations - continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively. If the company fails to retain or expand its network of customers the company's business, financial condition, cash flows and results of operations may be adversely affected.
- The company is subject to strict performance and quality requirements. Defects, perceived defects, or failures to meet customer specifications, whether attributable to the company or its suppliers, could result in order cancellations, recalls, liability, and reputational harm.
- The company has manufacturing facilities in India, Spain, the USA and Germany. Any adverse changes in economic or regulatory conditions affecting its supply chains in these jurisdictions could negatively affect the company's results of operations.
- The company does not have firm, long-term purchase commitments with many of its customers and the company's revenue visibility, capacity utilisation and margins may be adversely affected by order reductions, cancellations or delays.
- The company has significant working capital requirements and its inability to meet such working capital requirement may have an adverse effect on the company's results of operations and cash flows.
- The company had negative net cash flow from/ (used in) operations in the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024. Periods of negative cash flow in the future may adversely impact its results of operations, financial condition and profitability.
- Unplanned slowdowns or shutdowns in the company's manufacturing operations could adversely affect its business, results of operations, financial condition and cash flows.
- Pricing pressure from customers may affect the company's Gross Margin and profitability and may limit its ability to increase prices. This could materially adversely affect the company's business, results of operations, cash flows and financial condition.
- The company is exposed to counterparty credit risk. The company's inability to collect receivables on time or at all and defaults in payment from its customers could reduce the company's profits and affect its results of operations, financial condition and cash flows.
- The company's success depends on the expertise and continuing efforts of its Directors, Key Managerial Personnel and Senior Management, as well as the company's ability to attract and retain people with the relevant technical expertise. The company's inability to do so could adversely affect its business, financial condition, cash flows and results of operations.
- Any slowdown or interruption or under-utilisation of the company's manufacturing capacities may adversely affect its business, cash flows, future prospects and future financial performance.
- Orders in the company's Manufacturing Business order book may be delayed, modified or cancelled, which may have an adverse impact on its business, results of operations and cash flows.
- Security breaches and attacks against the company's systems, and any resulting breach or failures to protect confidential information, could adversely impact its business and reputation.
- The company operates in highly competitive industries, and if the company is not able to compete effectively, its business could be adversely affected.
- The company access to capital and the cost thereof is influenced by its credit ratings. Absence of ratings or unfavourable ratings may constrain financing options and adversely affect the company's business, financial condition, cash flows and results of operations.
- The company has in the past failed to file certain forms with RBI for certain allotments made by the Company, within the prescribed timelines under FEMA and the rules made thereunder and have also paid late submission fees for delays in filing of forms with RBI in respect of certain allotments made by the Company.
- Non-compliance with, or changes to, safety, health, environmental and labour laws could adversely affect the company's business, results of operations, cash flows and financial condition.
- The company's insurance coverage may not be adequate or its may incur uninsured losses or losses in excess of the company's insurance coverage which may impact its financial condition, cash flows and results of operations.
- There have been certain instances of delays in payment of statutory dues by the company in the past. Any delay in payment of statutory dues by the company in future, may result in the imposition of penalties and in turn may have an adverse effect on its business, financial condition, results of operation and cash flows.
- The company has pursued and are likely to continue to pursue strategic acquisitions to expand its capabilities. The company's inability to successfully complete and integrate suitable acquisitions on acceptable terms in the future could adversely affect its business, results of operations, financial condition and cash flows.
- The company is subject to laws related to anti-corruption, anti-bribery, anti-money laundering, financial and applicable primary and secondary economic sanctions and similar laws of the USA and EU or other jurisdictions, and non-compliance with such laws can subject it to administrative, civil and criminal fines and penalties, all of which could adversely affect the company's business, prospects, financial condition, results of operations, and cash flows.
- Exchange rate fluctuations in various currencies in which the company does business could materially and adversely impact its business, financial condition, cash flows and results of operations.
- The company has in the past entered into a number of related party transactions and may continue to enters into related party transactions in the future, and there can be no assurance that its could not have achieved more favourable terms if such transactions had not been entered into with related parties.
- The company may be exposed to evolving risks associated with the company uses of artificial intelligence and machine learning in critical areas of its operations.
- The company is dependent on third-party transportation providers for the supply of materials for its manufacturing and procurement operations and the delivery of the company's finished products and raw materials. Disruptions could adversely affect its business, results of operations, financial condition and cash flows
- There are outstanding legal proceedings against the Company, its Directors, the company's Promoters and its Subsidiaries, or Key Managerial Personnel and member of senior management and adverse outcomes in such proceedings may adversely affect the company's business, results of operations, cash flows and financial condition.
- The company must obtain, renew or maintain various statutory and regulatory permits and approvals in the ordinary course of its business, and the company failures to do so in a timely manner may adversely affect its operations.
- The company's Promoters and certain members of its Promoter Group had, in the past, pledged their Equity Shares and Preference Shares with a security trustee under the company's promoter borrowing arrangements and certain of its Equity Shares held by certain Shareholders are subject to a pledge. Its cannot assure you that the company's Shareholders, including its Promoters and Promoter Group, will not pledge or encumber their Equity Shares, in the future.
- The valuation reports obtained for acquisitions or divestments of business and undertakings and for mergers, amalgamations and revaluations of assets since inception are based on various assumptions and may not be indicative of the true value of the subject matter to which they relate.
- The company work with materials and machinery at its manufacturing facilities that can be dangerous and cause harm to people or property.
- The company must comply with restrictive covenants under its financing agreements, non-compliance with which can lead to accelerated repayment and suspension of future drawdowns, adversely affecting the company's business, results of operations, financial condition and cash flows.
- Improper storage, processing and handling of materials and products could damage the company's inventory, which may adversely affect its business, results of operations and cash flows.
- Unsatisfactory performance of, or defects in, the company's manufactured products or raw materials and semi-finished goods supplied through the company could result in costs incurred to repair or replace such products or materials, harm to its reputation and a reduction in sales.
- The company may be unable to adequately protect its intellectual property and may be subject to risks of infringement claims. In addition, the company may be subject to third party claims of intellectual property infringement, which could adversely affect the company's business, reputation, financial condition, cash flows and results of operations.
- The company has certain contingent liabilities which have been disclosed in its Restated Consolidated Financial Information, which may adversely affect the company's results of operations, cash flows and financial condition.
- The company may be subject to unionisation, work stoppages or increased labour costs, which could adversely affect its business, cash flows and results of operations.
- Internal or external fraud or misconduct by the company's employees, contractors, representatives or counterparties that its deal with could adversely affect the company's reputation and its results of operations.
- The land and premises for the company's Registered and Corporate office and manufacturing facilities and warehouses are held by the company on lease or leave and license or tenancy agreements or on subscription basis. Failures to renew or comply with lease and license arrangements could disrupt its business and adversely affect the company's results of operations, cash flows and financial condition.
- If the company is unable to establish and maintain an effective internal controls measures and compliance system, the company's business and reputation could be adversely affected.
- Information relating to the installed capacity, available capacity, actual production and capacity utilisation of the company's manufacturing facilities are based on assumptions and estimates, and future production and capacity may differ.
- The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution and if there are any delays or cost overruns, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The corporate filings in relation to the allotment of Series D CCPS dated February 16, 2021 with the RoC had discrepancies and instances of non-conformance with the Companies Act, 2013 relating to share allotments. Its cannot assure you that regulatory proceedings or actions will not be initiated against the company in the future, and its will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- Any variation in the utilisation of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Proceeds from the Offer for Sale portion of the Offer will not be available to the company. The Selling Shareholders in the Offer for Sale will receive the proceeds of the Offer.
- A portion of the Net Proceeds may be utilized for repayment or prepayment of specific loans incurred by the Company and certain of its Subsidiaries from entities which are affiliates of certain of the company Book Running Lead Managers.
- This Red Herring Prospectus contains information from an industry report which has been prepared exclusively for the Offer and paid for and commissioned by the company exclusively in connection with the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- The company has issued Equity Shares during the last 12 months at a price that may be lower than the Offer Price.
- If the company is unable to raise additional capital, its business, results of operations, cash flows and financial condition could be adversely affected.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Changing regulations in India for technology driven companies, especially for foreign direct investment, could lead to new compliance requirements that are uncertain.
- Certain of the company's Directors and Key Managerial Personnel (including its Promoters) have interests in the Company other than reimbursement of expenses incurred and normal remuneration or benefits.
- This Red Herring Prospectus contains certain non-GAAP financial measures and other statistical information related to the company operations and financial performance. These non-GAAP measures and statistical information may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or statistical information of similar nomenclature computed and presented by other companies.
- Information relating to the company operational capacities and the historical capacity utilisation of its manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilisation may vary.
- Majority of the company's Directors does not have prior experience of holding a directorship in a company listed on the Stock Exchanges.
- If the company is classified as a passive foreign investment company for U.S. federal income tax purposes, U.S. investors in Equity Shares may be subject to adverse U.S. federal income tax consequences.
How to check the allotment status of Zetwerk Manufacturing Businesses Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
IPO reads
Stay updated with the latest IPO developments
February 27, 2025 | 5 min read
₹50.11 Cr Balaji Phosphates IPO Opens Feb 28. Issue Details and SWOT AnalysisRead More
February 25, 2025 | 5 min read
Tata Capital Board Approves ₹15,000 Cr Plus Mega IPO; Tata Investment Shares Soar 8%Read More
February 18, 2025 | 5 min read
Busy Week Ahead: 2 SME IPOs and 9 Market Listings – Get the Complete Details HereRead More
October 25, 2024 | 5 min read
Waaree Energies IPO: GMP Soars 106% Amid 76.34x Subscription – Check Your Allotment Status!Read More
October 22, 2024 | 5 min read
Upcoming IPOs: 9 Public Issues Set to Raise ₹10,984.8 Cr – Key Insights Inside!Read More
October 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons WhyRead More
September 6, 2024 | 5 min read
Bajaj Housing Finance IPO: All You Need to KnowRead MoreOctober 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons WhyRead More
August 26, 2024 | 5 min read
Premier Energies IPO: Key Details Ahead of the ₹2,830.40 Cr Issue LaunchRead MoreMore on IPOs
Navigate your way to other IPO resources
Latest videos on IPOs
IPO highlights & details!
FAQs on IPO
Get answers to all your questions here!
The IPO opens on 15 Oct 2026 & closes on 19 Oct 2026.
Zetwerk Manufacturing Business Limited was originally incorporated at Chennai, Tamil Nadu as Zetwerk Manufacturing Businesses Private Limited' under Companies Act, 2013, dated December 6, 2017, issued by the RoC. Subsequently, the Company became a Public Limited company and the name changed to Zetwerk Manufacturing Businesses Limited'. Accordingly, a fresh certificate of Incorporation dated February 23, 2026, was issued by the CRC.
In the early stages, Zetwerk Manufacturing operated as a pure manufacturing marketplace, with demand sourced entirely from India and supplied exclusively through Indian suppliers. It initially focused on aggregating suppliers for capital goods products that were typically project-based and non-recurring in nature. For example, customers setting up greenfield manufacturing facilities would engage to source machine components. Such orders were generally one-time, with limited follow-on requirements other than spare parts.
As a technology-led, asset-light manufacturing platform, the Company deliver diversified industrial products across sectors including utilities, renewables, consumer electronics, AI infrastructure, space & defence, oil & gas, and industrial automation and aerospace both in India and globally. It converts digital designs and CAD files into physical products by matching client specifications with suitable manufacturing capacities. It Offers stock level management and supply chain visibility to reduce lead times for clients.
The Company has filed a Draft Prospectus with SEBI for IPO to raise a fresh issue of Rs 2600 crore equity shares of Rs 1 each and the offer for sale of 96,837,455 Equity shares.
Zetwerk Manufacturing Businesses Ltd IPO will close on 19 Oct 2026.
- Our unique business model enables us to serve multiple demand pools and makes us resilient across economic cycles
- Ability to scale in a capital-efficient manner.
- Zetwerk OS, our proprietary technology enables end-to-end workflow management across the manufacturing lifecycle while driving powerful network effects across our operations.
- Deep relationships with customers driving higher revenue visibility and stickiness.
- Ability to add value-additive ecosystem services to our manufacturing platform.
- Experienced, cycle-tested management team backed by an experienced board of directors.
- Comprehensive and institutionalised risk management framework with strong protection against external risks.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Amrit Pratik Acharya | 115526710 | 7.51 | 101296038 | 5.98 |
| 2 | Srinath Ramakkrushnan | 128355830 | 8.35 | 114125158 | 6.74 |
| 3 | Creovate Innovation Private L | 33598711 | 2.18 | 10623891 | 0.63 |
| 4 | Arabinda Acharya, on behalf o | 16412750 | 1.07 | 16412750 | 0.97 |
| 5 | Sharanya N Haridas | 10073684 | 0.66 | 10073684 | 0.59 |
| 6 | Balaraman Ramakkrushnan, on | 10597058 | 0.69 | 10597058 | 0.63 |
| 7 | TV Lalitha | 3060256 | 0.2 | 3060256 | 0.18 |
- The company incurred a restated loss for the period/year from continuing operations of Rs.641.29 million, Rs.8,806.65 million, Rs.9,643.93 million, Rs.2,150.69 million and Rs.8,525.31 million for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively, and certain of its Subsidiaries have incurred losses in the past. Any similar losses in the future may adversely affect the company's business, financial condition and cash flows.
- The company relies on third-party suppliers for manufacturing and raw materials, and exposure to price volatility, capacity and quality issues, supply disruptions, and trade and foreign exchange risks could adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- The company is dependent on the performance of the industries its customers operates in, including renewables, artificial intelligence infrastructure, oil & gas, consumer electronics, and defence & aerospace industries, and a downturn in any of these industries could adversely affect the company's business.
- The company's revenue from operations - continuing operations from India accounted for 83.53%, 77.29%, 82.54%, 79.41% and 75.43% and its revenue from operations - continuing operations from the USA accounted for 12.77%, 20.44%, 14.33%, 19.09% and 21.54% of the company's revenue from operations - continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively, each based on Ind AS 108 Operating Segments. Any adverse economic or regulatory changes that negatively affect the demand for its products in India and the USA could adversely affect the company's business, financial condition, cash flows and results of operations.
- The company's top 10 suppliers contributed 40.71%, 37.59%, 38.18%, 39.59% and 36.87% of its total expenses for continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively. Any disruption in the supply or quality from these suppliers could adversely affect the company's business, results of operations, financial condition, cash flows, and reputation.
- The company's statutory auditors have included certain emphasis of matters and modifications under the section "Report on Other Legal and Regulatory Requirements" in their auditor reports in the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024.
- The company's top 10 customers accounted for 29.39%, 34.26%, 35.90%, 26.89% and 22.37% of its revenue from operations - continuing operations for the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024, respectively. If the company fails to retain or expand its network of customers the company's business, financial condition, cash flows and results of operations may be adversely affected.
- The company is subject to strict performance and quality requirements. Defects, perceived defects, or failures to meet customer specifications, whether attributable to the company or its suppliers, could result in order cancellations, recalls, liability, and reputational harm.
- The company has manufacturing facilities in India, Spain, the USA and Germany. Any adverse changes in economic or regulatory conditions affecting its supply chains in these jurisdictions could negatively affect the company's results of operations.
- The company does not have firm, long-term purchase commitments with many of its customers and the company's revenue visibility, capacity utilisation and margins may be adversely affected by order reductions, cancellations or delays.
- The company has significant working capital requirements and its inability to meet such working capital requirement may have an adverse effect on the company's results of operations and cash flows.
- The company had negative net cash flow from/ (used in) operations in the three months periods ended June 30, 2026 and June 30, 2025 and Fiscals 2026, 2025 and 2024. Periods of negative cash flow in the future may adversely impact its results of operations, financial condition and profitability.
- Unplanned slowdowns or shutdowns in the company's manufacturing operations could adversely affect its business, results of operations, financial condition and cash flows.
- Pricing pressure from customers may affect the company's Gross Margin and profitability and may limit its ability to increase prices. This could materially adversely affect the company's business, results of operations, cash flows and financial condition.
- The company is exposed to counterparty credit risk. The company's inability to collect receivables on time or at all and defaults in payment from its customers could reduce the company's profits and affect its results of operations, financial condition and cash flows.
- The company's success depends on the expertise and continuing efforts of its Directors, Key Managerial Personnel and Senior Management, as well as the company's ability to attract and retain people with the relevant technical expertise. The company's inability to do so could adversely affect its business, financial condition, cash flows and results of operations.
- Any slowdown or interruption or under-utilisation of the company's manufacturing capacities may adversely affect its business, cash flows, future prospects and future financial performance.
- Orders in the company's Manufacturing Business order book may be delayed, modified or cancelled, which may have an adverse impact on its business, results of operations and cash flows.
- Security breaches and attacks against the company's systems, and any resulting breach or failures to protect confidential information, could adversely impact its business and reputation.
- The company operates in highly competitive industries, and if the company is not able to compete effectively, its business could be adversely affected.
- The company access to capital and the cost thereof is influenced by its credit ratings. Absence of ratings or unfavourable ratings may constrain financing options and adversely affect the company's business, financial condition, cash flows and results of operations.
- The company has in the past failed to file certain forms with RBI for certain allotments made by the Company, within the prescribed timelines under FEMA and the rules made thereunder and have also paid late submission fees for delays in filing of forms with RBI in respect of certain allotments made by the Company.
- Non-compliance with, or changes to, safety, health, environmental and labour laws could adversely affect the company's business, results of operations, cash flows and financial condition.
- The company's insurance coverage may not be adequate or its may incur uninsured losses or losses in excess of the company's insurance coverage which may impact its financial condition, cash flows and results of operations.
- There have been certain instances of delays in payment of statutory dues by the company in the past. Any delay in payment of statutory dues by the company in future, may result in the imposition of penalties and in turn may have an adverse effect on its business, financial condition, results of operation and cash flows.
- The company has pursued and are likely to continue to pursue strategic acquisitions to expand its capabilities. The company's inability to successfully complete and integrate suitable acquisitions on acceptable terms in the future could adversely affect its business, results of operations, financial condition and cash flows.
- The company is subject to laws related to anti-corruption, anti-bribery, anti-money laundering, financial and applicable primary and secondary economic sanctions and similar laws of the USA and EU or other jurisdictions, and non-compliance with such laws can subject it to administrative, civil and criminal fines and penalties, all of which could adversely affect the company's business, prospects, financial condition, results of operations, and cash flows.
- Exchange rate fluctuations in various currencies in which the company does business could materially and adversely impact its business, financial condition, cash flows and results of operations.
- The company has in the past entered into a number of related party transactions and may continue to enters into related party transactions in the future, and there can be no assurance that its could not have achieved more favourable terms if such transactions had not been entered into with related parties.
- The company may be exposed to evolving risks associated with the company uses of artificial intelligence and machine learning in critical areas of its operations.
- The company is dependent on third-party transportation providers for the supply of materials for its manufacturing and procurement operations and the delivery of the company's finished products and raw materials. Disruptions could adversely affect its business, results of operations, financial condition and cash flows
- There are outstanding legal proceedings against the Company, its Directors, the company's Promoters and its Subsidiaries, or Key Managerial Personnel and member of senior management and adverse outcomes in such proceedings may adversely affect the company's business, results of operations, cash flows and financial condition.
- The company must obtain, renew or maintain various statutory and regulatory permits and approvals in the ordinary course of its business, and the company failures to do so in a timely manner may adversely affect its operations.
- The company's Promoters and certain members of its Promoter Group had, in the past, pledged their Equity Shares and Preference Shares with a security trustee under the company's promoter borrowing arrangements and certain of its Equity Shares held by certain Shareholders are subject to a pledge. Its cannot assure you that the company's Shareholders, including its Promoters and Promoter Group, will not pledge or encumber their Equity Shares, in the future.
- The valuation reports obtained for acquisitions or divestments of business and undertakings and for mergers, amalgamations and revaluations of assets since inception are based on various assumptions and may not be indicative of the true value of the subject matter to which they relate.
- The company work with materials and machinery at its manufacturing facilities that can be dangerous and cause harm to people or property.
- The company must comply with restrictive covenants under its financing agreements, non-compliance with which can lead to accelerated repayment and suspension of future drawdowns, adversely affecting the company's business, results of operations, financial condition and cash flows.
- Improper storage, processing and handling of materials and products could damage the company's inventory, which may adversely affect its business, results of operations and cash flows.
- Unsatisfactory performance of, or defects in, the company's manufactured products or raw materials and semi-finished goods supplied through the company could result in costs incurred to repair or replace such products or materials, harm to its reputation and a reduction in sales.
- The company may be unable to adequately protect its intellectual property and may be subject to risks of infringement claims. In addition, the company may be subject to third party claims of intellectual property infringement, which could adversely affect the company's business, reputation, financial condition, cash flows and results of operations.
- The company has certain contingent liabilities which have been disclosed in its Restated Consolidated Financial Information, which may adversely affect the company's results of operations, cash flows and financial condition.
- The company may be subject to unionisation, work stoppages or increased labour costs, which could adversely affect its business, cash flows and results of operations.
- Internal or external fraud or misconduct by the company's employees, contractors, representatives or counterparties that its deal with could adversely affect the company's reputation and its results of operations.
- The land and premises for the company's Registered and Corporate office and manufacturing facilities and warehouses are held by the company on lease or leave and license or tenancy agreements or on subscription basis. Failures to renew or comply with lease and license arrangements could disrupt its business and adversely affect the company's results of operations, cash flows and financial condition.
- If the company is unable to establish and maintain an effective internal controls measures and compliance system, the company's business and reputation could be adversely affected.
- Information relating to the installed capacity, available capacity, actual production and capacity utilisation of the company's manufacturing facilities are based on assumptions and estimates, and future production and capacity may differ.
- The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution and if there are any delays or cost overruns, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- The corporate filings in relation to the allotment of Series D CCPS dated February 16, 2021 with the RoC had discrepancies and instances of non-conformance with the Companies Act, 2013 relating to share allotments. Its cannot assure you that regulatory proceedings or actions will not be initiated against the company in the future, and its will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- Any variation in the utilisation of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Proceeds from the Offer for Sale portion of the Offer will not be available to the company. The Selling Shareholders in the Offer for Sale will receive the proceeds of the Offer.
- A portion of the Net Proceeds may be utilized for repayment or prepayment of specific loans incurred by the Company and certain of its Subsidiaries from entities which are affiliates of certain of the company Book Running Lead Managers.
- This Red Herring Prospectus contains information from an industry report which has been prepared exclusively for the Offer and paid for and commissioned by the company exclusively in connection with the Offer and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.
- The company has issued Equity Shares during the last 12 months at a price that may be lower than the Offer Price.
- If the company is unable to raise additional capital, its business, results of operations, cash flows and financial condition could be adversely affected.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Changing regulations in India for technology driven companies, especially for foreign direct investment, could lead to new compliance requirements that are uncertain.
- Certain of the company's Directors and Key Managerial Personnel (including its Promoters) have interests in the Company other than reimbursement of expenses incurred and normal remuneration or benefits.
- This Red Herring Prospectus contains certain non-GAAP financial measures and other statistical information related to the company operations and financial performance. These non-GAAP measures and statistical information may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or statistical information of similar nomenclature computed and presented by other companies.
- Information relating to the company operational capacities and the historical capacity utilisation of its manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates and future production and capacity utilisation may vary.
- Majority of the company's Directors does not have prior experience of holding a directorship in a company listed on the Stock Exchanges.
- If the company is classified as a passive foreign investment company for U.S. federal income tax purposes, U.S. investors in Equity Shares may be subject to adverse U.S. federal income tax consequences.
The Issue type of Zetwerk Manufacturing Businesses Ltd is Book Building.
The minimum application for shares of Zetwerk Manufacturing Businesses Ltd is 99.
The total shares issue of Zetwerk Manufacturing Businesses Ltd is 331942254.
Initial public offering of 332,007,155 equity shares of face value of Re.1 each ("Equity Shares") of Zetwerk Manufacturing Businesses Limited ( "Company") for cash at a price of Rs. 151 per equity share including a share premium of Rs. 150 per equity share ("Offer Price") aggregating to Rs. 5012.33 Crores (the "Offer") comprising a fresh issue of 187,482,119 equity shares of face value of Re. 1 each aggregating to Rs. 2830.00 Crores
(the "Fresh Issue") and an offer for sale of 144,525,036 equity shares of face value of Re. 1 each aggregating to Rs. 2182.33 Crores, comprising an offer for sale of 14,230,672 equity shares of face value of Rs. 1 each aggregating to Rs. 214.88 Crores by Amrit Pratik Acharya, 14,230,672 equity shares of face value of Re.1 each aggregating to Rs. 214.88 Crores by Srinath Ramakkrushnan ("Promoter Selling Shareholders"),
22,974,820 equity shares of face value of Re. 1 each aggregating to Rs. 346.92 Crores by Creovate Innovation Private Limited ("Promoter Group Selling Shareholder"), 17,611,820 equity shares of face value of Rs. 1 each aggregating to Rs. 265.94 Crores by Peak xv Partners Investments v (formerly known as SCI Investments v), 12,016,622 equity shares of face value of Re. 1 each aggregating to Rs. 181.45 Crores by Accel India V
(Mauritius) Limited, 13,529,722 equity shares of face value of Re.1 each aggregating to Rs. 204.30 Crores by Lightspeed Venture Partners Select iv Mauritius, 11,597,361 equity shares of face value of Re. 1 each aggregating to Rs. 175.12 Crores by Lightspeed India Partners ii, LLC, 12,570,262 equity shares of face value of Re. 1 each aggregating to Rs. 189.81 Crores by kae Capital Fund ii, 2,857,565 equity shares of face value of Re. 1 each aggregating up to Rs. 43.15 Crores by Saifuddin Fakhruddin Qureishi, 5,797,579 equity shares of face value of Re. 1 each aggregating to Rs. 87.54 Crores by Peak xv Partners Growth Investments iii (formerly known as SCI Growth Investments iii), 2,442,738 equity shares of face value of Re. 1 each aggregating to Rs. 36.89 Crores by Matthew Harris Arnold, 3,145,603 equity shares of face value of Re. 1 each aggregating to Rs. 47.50 Crores by Lightspeed India Partners iii, LLC, 4,190,105 equity shares of face value of Re. 1 each aggregating to Rs. 63.27 Crores by Kalysta Capital Fund ii (Mauritius), 409,182 equity shares of face value of Re. 1 each aggregating to Rs. 6.18 Crores by Subbiah Vellayan, 408,469 equity shares of face value of Re. 1 each aggregating to Rs. 6.17 Crores by A. Venkatachalam, 100 equity shares of face value of Re. 1 each aggregating up to Rs. 0.002 Crores by Shivraj Singh Kandhari (Guardian, Bikramjit Singh Kandhari), 299,402 equity shares of face value of Re.1 each aggregating to Rs. 4.52 Crores by Can Köseoglu, 256,630 equity shares of face value of Re. 1 each aggregating to Rs. 3.88 Crores by Andrew Richard Woglom, 86,129 equity shares of face value of Re. 1 each aggregating up to Rs. 1.30 Crores by Cem Garih Nahmiyas, 83,167 equity shares of face value of Re. 1 each aggregating to Rs. 1.26 Crores by Nitin Mahajan, 71,286 equity shares of face value of Re. 1 each aggregating to Rs. 1.08 Crores by Daniel Robert Bachelet ("Investor Selling Shareholders"), 1,714,539 equity shares of face value of Re. 1 each aggregating to Rs. 25.89 Crores by Vishal Chaudhary, 1,714,539 equity shares of face value of Re. 1 each aggregating to Rs. 25.89 Crores by Rahul Sharma, 2,286,052 equity shares of face value of Re. 1 each aggregating to Rs. 34.52 Crores by Ankit Fatehpuria ("Individual Selling Shareholders", and together with the promoter selling shareholders, promoter group selling shareholder and the investor selling shareholders, the "Selling Shareholders") (the "Offer for Sale" and such equity shares, the "Offered Shares"). The offer includes a reservation of 700,000 equity shares of face value of Rs. 1 each, aggregating to Rs. 9.59 Crores (constituting to 0.04% of the post-offer paid-up equity share capital of the company) for subscription by eligible employees (the "Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute 19.60% and 19.55%, respectively, of the post-offer paid-up equity share capital of the company.
Price Band: Rs. 151 per equity share bearing face value of Rs. 1 each.
The floor price is 151 times of the face value of the equity shares.
Bids can made for a minimum of 99 equity shares of face value of Rs. 1 each and in multiples of 99 equity shares face value of Rs. 1 each thereafter.
A discount of Rs. 14 per equity share is being offered to eligible employees bidding in the employee reservation portion.