Zetwerk plans $750 Million IPO, hires 6 banks

Core Viewpoint - Zetwerk Pvt, an Indian contract manufacturer, is preparing for an initial public offering (IPO) that may raise up to $750 million, indicating strong interest in the Indian IPO market [1][2]. Company Overview - Zetwerk specializes in manufacturing fabricated metal products and serves clients across various sectors, including aerospace components, consumer electronics, and capital goods [4]. IPO Details - The company is likely to file a draft prospectus early next year through a confidential route, with the offering expected to include a mix of new and existing shares, primarily consisting of a fresh issue [2]. - The IPO is part of a broader trend in India's booming IPO market, where companies have raised approximately $19.5 billion so far this year, following a record $21 billion in 2024 [3]. Underwriters - Zetwerk has mandated several financial institutions, including Kotak Mahindra Capital Co., JM Financial Services Ltd., Avendus Capital Pvt., and the Indian units of HSBC Holdings Plc, Morgan Stanley, and Goldman Sachs Group Inc. to manage the share sale [1].