Newsletter
Contract manufacturer Zetwerk is gearing up to file for an IPO to raise as much as $750 million.
For context: Zetwerk is a global manufacturing platform that connects businesses with factories, streamlining production, sourcing, and supply chains across industries with digital efficiency.
The deets: the company plans to quietly file its IPO paperwork early next year. The share sale will likely include both new shares and shares sold by existing investors.
A share sale is basically when a company sells pieces of itself to the public to bring in money or let early investors cash out.
Most of the shares in this case are expected to be new ones, which means the company wants fresh funds to grow. The final amount and timing aren’t set yet and could still change depending on how things go.
The Bengaluru-based company has recently brought on board Kotak Mahindra Capital, JM Financial Services, Avendus Capital, and the Indian units of HSBC Holdings, Morgan Stanley, and Goldman Sachs to manage the share sale.
In simple terms, the company has hired a lineup of top financial players to run the entire process for its upcoming move into the public markets.
Worth noting: if this goes through, it would be one of the biggest stock-market launches by an Indian manufacturing company.
It would also join the long list of companies rushing to go public this year, with businesses in India already raising about $19.5 billion through IPOs so far.
