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Supply chain startup Zetwerk eyes $1 billion from IPO
Zetwerk has been in talks with investment banks for a possible listing on the Mumbai stock exchange next year, a report said
Zetwerk, a Bengaluru-based supply chain startup, is planning to raise $1 billion (about Rs8,300 crore) through an initial public offering (IPO), Bloomberg reported, citing executives aware of the plans.
The company connects suppliers and customers across industries, including aircraft engine manufacturing, consumer electronics, and home appliances.
Zetwerk has been in talks with investment banks for a possible listing on the Mumbai stock exchange next year, the report said.
Details regarding the size, valuation, and timing of the IPO were not disclosed and the negotiations are at an early stage, the report said.
Zetwerk is backed by investors such as Peak XV Partners and Lightspeed India Partners.
In October, Zetwerk said it planned to invest Rs500 crore to improve its manufacturing capacity in the renewable energy sector, particularly in offshore wind projects in the US and Europe.
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