Zetwerk Manufacturing Businesses Limited
Capital Goods & Infrastructure • Total Issue: ₹5012 Cr
Category-Wise Subscription Breakdown
Latest snapshot as of Day 3 · Overall 3.06x
Valuation Multiples & Key Ratios
Sector Valuation Anchors & Multiples
Comparing Zetwerk Manufacturing Businesses Limited asking multiples against official 10-year historical sector norms for Capital Goods & Infrastructure.
“Robust sovereign capital outlay and multi-year order backlogs support elevated multiples.”
Grey Market Premium (GMP) History
Real-time multi-observation premium trend line and daily price movements.
IPO Timeline & Schedule
KFin Technologies Limited
About Zetwerk Manufacturing Businesses Limited
Founded in 2017, Zetwerk is a Bengaluru-based, technology-led platform that aggregates manufacturing capacity. Its software, Zetwerk OS, splits customer orders across 6,979 suppliers in 26 countries, alongside 26 of its own facilities. Products range from solar and wind components and power transformers to laptops, circuit boards, and heavy industrial equipment, for customers like Siemens Gamesa, Acer, NTPC, and DRDO.
Key Business Strengths
- Asset-light model: about 80% of FY26 revenue came from products made by third-party suppliers.
- Zetwerk’s flexible capacity helps it deliver faster, without any large capital commitments.
- Strong order pipeline: a ₹13,062 crore manufacturing order book (June 30, 2026), about 1.4x FY26 manufacturing revenue.
- Repeat business: 80% of FY26 manufacturing revenue came from existing customers.
- Blue-chip customers: 16 of the Nifty 50 companies and 102 of India’s Fortune 500.
- Diversified: spans energy (69% of manufacturing revenue), capital goods (16%) and precision electronics (15%).
Key Risks & Challenges
- Still loss-making: losses in every period shown, and negative operating cash flow every year.
- Supplier dependence: quality, capacity, or supply problems at third-party suppliers would directly hit deliveries.
- Customer concentration: the top 10 customers’ share of revenue rose from 22% in FY24 to 36% in FY26.
- Exposed to geopolitical and tariff risks in global markets.
- Pending legal proceedings could lead to adverse outcomes.
Transparency & Informational Notice
Grey Market Premium (GMP) is unofficial, unregulated market pricing gathered from market participants and brokers. It is provided for educational and observation purposes only and does not represent guaranteed listing price or investment advice.