Zetwerk Eyes IPO Within Two Years as Manufacturing Expansion Continues
Contract manufacturing marketplace Zetwerk Manufacturing Businesses plans to go public within the next 15 to 24 months, according to CEO and co-founder Amrit Acharya.
"We are doing all the preparation work, but I think 15 to 24 months is the timeline that we have," Acharya revealed during the inauguration of Zetwerk Electronics' seventh manufacturing facility at Sriperumbudur near Chennai. This marks the company's first plant in Tamil Nadu, adding to their existing two manufacturing facilities in the US and one in Europe.
Industry reports suggest Zetwerk aims to raise $400-500 million through the offering at a valuation of $5 billion, though Acharya did not confirm these figures.
The CEO emphasized that while providing investor exits remains essential, there's no rush to go public. "Most investors have a 7-10 year investment horizon. We are well within that limit. The bulk of our capital was raised three years ago, so even though we're a six-year-old business, my capital clock started three years back," he explained.
Zetwerk Electronics co-founder Rahul Sharma noted that the new plant represents part of a Rs 1,000 crore investment and will create approximately 1,500 jobs in this key industrial zone.
According to Tracxn data, the company secured $70 million in December 2024 in a funding round led by Khosla Ventures and IndiGo Airlines co-founder Rakesh Gangwal. Backed by Peak XV Partners and Lightspeed India, Zetwerk has raised a total of $768 million across 16 funding rounds.
"Renewables, Aerospace & Defence, and Electronics should contribute 70-80% of the company's revenue over the next 3-4 years," Acharya projected.
The company maintains an order book of approximately ₹17,000 crore ($2 billion), with one-third comprising multi-year contracts, including five- and seven-year recurring deals.
While Zetwerk primarily connects clients with its network of small-scale manufacturers, it handles 10-15% of production in-house—a figure Acharya expects will increase to 15-20% across various sectors as they strengthen their manufacturing capabilities.