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IPO ·
NSE, BSE
Zetwerk Manufacturing Businesses Ltd
Listed
Tech-enabled contract manufacturing platform that makes metal and electronic components for renewable energy, electronics, aerospace and industrial clients via its own and partner factories.
Issue details
Price band
₹143 – ₹151
Face value
₹1
Lot size
99 shares
Minimum investment
₹14,949
Issue size
₹5,012.33 Cr
Fresh issue
₹2,830 Cr
Offer for sale
₹2,182.33 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
15 Oct 2026
Closes
19 Oct 2026
UPI mandate cut-off
5:00 PM on 19 Oct 2026
Allotment
21 Oct 2026
Refunds
22 Oct 2026
Shares in demat
22 Oct 2026
Listing
23 Oct 2026
Subscription and listing
Subscription
3.10x
Listing price
₹159.25
Registrar
KFin Technologies Ltd
Lead manager
Kotak Mahindra Capital Co Ltd
Subscription by category
QIB (Ex Anchor)
4.71x
NII
1.45x
bNII (> ₹10L)
1.74x
sNII (< ₹10L)
0.86x
Retail
0.77x
Employee
1.59x
Total
3.10x
Total applications
1,89,093
Anchor investors
Amount raised
₹2,251.23 Cr
Bid date
14 Oct 2026
50% lock-in ends
19 Nov 2026
Rest lock-in ends
18 Jan 2027
Listing day
Issue price
₹151
Open
₹159.25
High
₹161.00
Low
₹127.40
Day close
₹138.25
Listing gain at open
+5.46%
Issue structure
Shares reserved per category and share of the total issue
QIB
24,84,80,367
74.84%
Anchor Investor
14,90,88,220
44.91%
QIB (Ex. Anchor)
9,93,92,147
29.94%
NII
4,96,96,073
14.97%
bNII > ₹10L
3,31,30,716
9.98%
sNII < ₹10L
1,65,65,357
4.99%
Retail
3,31,30,715
9.98%
Employee
7,00,000
0.21%
Total
33,20,07,155
100.00%
Finaccle’s quick read
Under review
The main Chittorgarh IPO page could not be read, so balance sheet, KPIs and valuation are unavailable; news pages show only income of ₹16,100.63 Cr and a reported loss of ₹1,606.17 Cr for FY26.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Zetwerk runs a technology-led contract manufacturing platform that matches industrial and consumer companies with a global network of partner factories for custom and volume production. Its customers range from startups to large enterprises in utilities, renewables, consumer electronics, AI infrastructure, aerospace and defence, oil and gas, and industrial automation. Chittorgarh reports total income of about ₹16,100 Cr for the year to March 2026.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
—
ROCE
—
Debt / equity
—
PAT margin
—
P/E post issue
—
Market cap
—
Use of IPO money
Repayment/prepayment of borrowings
₹1,300.00 Cr
Investments in subsidiaries
₹860.00 Cr
Inorganic growth and general corporate purposes
₹533.84 Cr
Issue expenses
₹241.13 Cr
Strengths
✓
Large-scale contract manufacturing platform across many sectors
✓
Majority fresh issue (₹2,830 Cr of ₹5,012 Cr)
✓
Part of proceeds used to repay ₹1,300 Cr of borrowings
Risks to watch
!
Chittorgarh reports net losses (₹1,606.17 Cr in FY26, ₹732.98 Cr in Q1 FY27)
!
OFS of about ₹2,182 Cr is over 40% of the issue
!
Low-margin, working-capital heavy contract manufacturing model
!
Weak retail demand (0.77x retail subscription)
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.