Zetwerk Manufacturing Business raised approximately Rs 2,160 crore to pay down borrowings, fund acquisitions, and support corporate operations. Operating revenue climbed 40% year-on-year to Rs 15,913 crore in FY26 alongside a Rs 13,000 crore order book. However, the firm posted a net loss of Rs 733 crore, primarily due to a discontinued civil infrastructure segment that accounted for Rs 669 crore of that total.
Key points
Proceeds from the listing will substantially strengthen the balance sheet through debt pr…: Proceeds from the listing will substantially strengthen the balance sheet through debt prepayments and strategic acquisitions.
The business retains strong commercial momentum, supported by an 80% repeat customer rate…: The business retains strong commercial momentum, supported by an 80% repeat customer rate and a manufacturing order book of Rs 13,000 crore.
First-day market trading ended 8.41% below the original initial public offering issue pri…: First-day market trading ended 8.41% below the original initial public offering issue price of Rs 151.
Sources checked by our analysis pipeline: 1
Reflecting on his journey, Acharya said, "When I moved back, my father, a professor, was sceptical. I had walked away from the traditional Indian dream of a job abroad. But our story is also that of today's India, where my cofounders and I, 20-somethings from small towns, without family connections, can raise capital, build a business, take it global and take it public, all within a decade.
Shares of Zetwerk Manufacturing Business made a muted debut on the stock exchanges on Friday, October 23, listing at Rs 159, a premium of 5.3% over its IPO price of Rs 151. However, the stock reversed its opening gains to close at Rs 138.30, down 13.02% from its listing price and 8.41% below the issue price.
From returning to India to taking Zetwerk public
Acharya, in a post on X, said that he started Zetwerk when he was 29 years old. "My wife Sharanya and I had just returned from the US to build our lives in India. Last month, we welcomed our daughter. Last week, we took the company public. It is…
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