Zetwerk plans IPO to raise $400M–$550M as Indian manufacturing platform eyes public markets

Zetwerk, the Indian manufacturing platform that connects businesses with a sprawling network of global suppliers, is gearing up for an initial public offering that could raise between $400M and $550M. The company is targeting a valuation of roughly $4B, a meaningful step up from its last private-market price tag of $3.1B. For a company that was founded just eight years ago, the trajectory is striking. Zetwerk has gone from a scrappy Bengaluru startup to a unicorn with over 1,100 clients spread across 25 countries, and it now wants to test whether public-market investors share the enthusiasm that private backers have shown to the tune of $900M in venture funding. The deal taking shape Zetwerk confidentially filed its draft IPO papers earlier this year, and the Securities and Exchange Board of India granted its approval on July 9, 2026. That approval window stays open for 18 months, giving the company flexibility on timing. The company has assembled a heavyweight roster of investment banks to manage the offering. Kotak, JM Financial, and Goldman Sachs are among the advisors working on the deal. In preparation for the listing, Zetwerk also closed a pre-IPO funding round worth roughly ...