Zetwerk has filed its Red Herring Prospectus with the Registrar of Companies, locking in its long-awaited market debut. The Bengaluru-based contract manufacturing platform will open its IPO for subscription on October 15, 2026 and close on October 19, 2026, with anchor investor bidding scheduled for October 14. The company will announce its IPO price band on October 12, and is tentatively targeting a stock market listing on the BSE and NSE on October 23, 2026.

The RHP shows Zetwerk has upsized both halves of the offer compared with its draft papers. The fresh issue has been scaled up to Rs 2,830 crore from the Rs 2,600 crore proposed earlier, while the offer for sale has expanded 49% to 14.45 crore equity shares, up from 9.68 crore shares indicated in the updated draft prospectus.

Co-founders Amrit Acharya and Srinath Ramakkrushnan will each offload up to 1.42 crore shares, while promoter-group vehicle Creovate Innovation will tender up to 2.30 crore shares. The number of selling shareholders remains unchanged at 24, but eight institutional investors have increased the number of shares they plan to sell: Lightspeed Venture Partners (2.51 crore shares), Peak XV Partners (2.34 crore), Kae Capital and Kalysta Capital (1.67 crore combined) and Accel India V (1.20 crore).

The issue arrives with heavyweight demand. Mint reported on October 10 that more than 30 foreign and domestic investors — including the Abu Dhabi Investment Authority, Norges Bank, BlackRock and the asset management arms of Goldman Sachs, SBI and HDFC — are weighing participation in the anchor book, at a targeted valuation of around Rs 27,000 crore ($3.1 billion).

Zetwerk began the IPO process via the confidential route in March 2026, received SEBI's approval in July 2026 and filed its updated draft prospectus on August 13. The IPO opens this week as one of the flagship manufacturing listings of the season.

Why it matters for founders

Zetwerk's upsized issue and packed anchor book signal that public markets are rewarding industrial-tech scale, not just consumer or fintech plays. For B2B and manufacturing founders, a Rs 2,830 crore fresh issue at a Rs 27,000 crore valuation shows the IPO window is wide open for hard-economy companies — and the October 12 price band will set the tone for every listing behind it.