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B2B manufacturing startup Zetwerk is in talks with over a dozen investment bankers to raise funds for its initial public offering (IPO), which the company is targeting by H1 2025, sources told CNCB-TV18.
While Bloomberg News reported that Zetwerk is looking to raise $1 billion through the IPO, when CNBC-TV18 reached out to the company, they refused to comment on public issue size.
The firm which is backed by investors such as Peak XV Partners and Lightspeed India Partners, has so far raised $698 million in funding and was valued at $2.8 billion in March this year, according to data from Tracxn. Aviation carrier IndiGo's promoter Rakesh Gangwal had invested $20 million in manufacturing marketplace Zetwerk through Wheelhouse Venture Capital on March 7.
The company posted revenue of ₹11,596 crore for FY23, with a loss of about ₹109 crore, according to Tracxn. The firm has not disclosed FY24 financials yet.
Zetwerk’s technology platform helps connect suppliers and customers in areas such as aircraft engine manufacturing, consumer electronics and home appliances.
The company's unique model enables custom manufacturing of over 9 million parts, ensuring timely delivery to assembly lines for 1,800 clients across 20 countries. Notable clients include industry giants like GE, Tata Group, L&T, and ISRO.
In September, the private contract manufacturing company had received a significant order from NTPC for the manufacturing and supply of 1,515 megawatt peak (MWp) solar photovoltaic (PV) modules, along with spare parts for the 1,200 MW Khavda Solar project in Gujarat.
While Bloomberg News reported that Zetwerk is looking to raise $1 billion through the IPO, when CNBC-TV18 reached out to the company, they refused to comment on public issue size.
The firm which is backed by investors such as Peak XV Partners and Lightspeed India Partners, has so far raised $698 million in funding and was valued at $2.8 billion in March this year, according to data from Tracxn. Aviation carrier IndiGo's promoter Rakesh Gangwal had invested $20 million in manufacturing marketplace Zetwerk through Wheelhouse Venture Capital on March 7.
The company posted revenue of ₹11,596 crore for FY23, with a loss of about ₹109 crore, according to Tracxn. The firm has not disclosed FY24 financials yet.
Zetwerk’s technology platform helps connect suppliers and customers in areas such as aircraft engine manufacturing, consumer electronics and home appliances.
The company's unique model enables custom manufacturing of over 9 million parts, ensuring timely delivery to assembly lines for 1,800 clients across 20 countries. Notable clients include industry giants like GE, Tata Group, L&T, and ISRO.
In September, the private contract manufacturing company had received a significant order from NTPC for the manufacturing and supply of 1,515 megawatt peak (MWp) solar photovoltaic (PV) modules, along with spare parts for the 1,200 MW Khavda Solar project in Gujarat.
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