Zetwerk IPO: DRHP filed with SEBI for 2026 listing

Filing marks start of Zetwerk’s IPO process

Zetwerk Manufacturing Businesses Ltd. has filed its draft papers with the Securities and Exchange Board of India (SEBI) for a proposed initial public offering. The filing date shown is Wednesday, April 1, 2026. The company has used the confidential pre-filing route, which allows it to receive SEBI feedback before making the draft offer document public.

The proposed IPO is described as a book-built issue. The equity shares are proposed to be listed on both BSE and NSE, placing it in the mainboard category.

What the company disclosed in its public notice

In a public notice, Zetwerk said it has filed “the pre-filed draft red herring prospectus with Sebi and the stock exchanges… in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges.” The statement confirms the use of the confidential route and that the filing has been made with SEBI and the stock exchanges.

Because it is a pre-filed DRHP, several deal specifics are not available in public disclosures at this stage. The company has not announced the opening and closing dates, the price band, or the lot size.

IPO structure: fresh issue plus OFS indicated

A PTI report said Zetwerk filed preliminary papers through the confidential route to raise between ₹4,000 crore and ₹5,000 crore. The offering is expected to include a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders, according to people familiar with the development cited in the report.

The final issue size and valuation are expected to be determined through the book-building process, as indicated in the report. Separately, another market update also referred to a potential IPO of around ₹5,000 crore and said the company was exploring a pre-IPO round.

Lead managers and other intermediaries

Kotak Mahindra Capital Co. Ltd. is named as a book running lead manager in the available IPO details. Another report on the same proposed offering said the merchant bankers include Kotak Mahindra, Goldman Sachs, Pantomath Investment Banking, Morgan Stanley, HSBC, and JM Financial.

The registrar to the issue has not been declared in the provided details. Some lines in the available IPO text contain blanks for registrar, face value, and aggregate issue size, indicating that the information is yet to be published in a finalised form.

Key details still awaited: dates, price band, lot size

The IPO open and close dates are not available as of now, and the listing date is also not yet announced. The price is described as “to be declared,” and the minimum order quantity is not provided.

This is typical for confidential filings, where the draft document is not immediately available to the public. Investors will need to wait for a public DRHP or later updates for offer dates, price band, and lot size.

Registered address shown in the filing information

The filing information includes an address in Bengaluru, Karnataka:

Ground & 1st Floor, Green Glen Layout, Bellandur, Bangalore Urban, Karnataka, 560103.

India’s IPO pipeline context: SEBI clearances pick up

Zetwerk’s filing comes as India’s IPO pipeline for 2026 remains active. One update said SEBI cleared a clutch of public issues led by quick commerce player Zepto, setting the stage for a closely watched set of new-age listings.

Zepto has received SEBI approval for an IPO targeted at ₹10,000 crore to ₹12,000 crore, with a potential listing window of July to September 2026, as per the information provided. SEBI has also cleared IPOs of Dhoot Transmission, Horizon Industrial Parks, Surgiwear, Crystal Crop Protection, and Hotel Polo Tower.

Broader filing trend: confidential route becomes more common

The data also points to rising use of confidential filings. Of 38 companies that filed draft papers with SEBI, a total of nine firms, including Zetwerk, opted for the confidential filing route. Names mentioned alongside Zetwerk include SNVA Traveltech, Rediff.com India, Torrent Gas, Synergy Advanced Metals, Garuda Aerospace, and Sohan Lal Commodity Management.

An Axis Capital report cited in the provided text said 64 companies have filed DRHPs and are awaiting clearance, while 124 companies have already received regulatory approval but are yet to launch.

Key facts table

Market impact: what investors can and cannot infer today

At this stage, the filing mainly signals intent and the start of regulatory engagement, rather than tradable IPO parameters. With the price band, lot size, and schedule not yet disclosed, investors cannot calculate potential application amounts or implied valuations from the public information provided.

Still, the reported fundraise range of ₹4,000 crore to ₹5,000 crore positions the issue among the larger pipeline deals for 2026. The book-building route also suggests pricing will be discovered through institutional demand closer to launch.

Conclusion

Zetwerk’s confidential pre-filed DRHP submission on April 1, 2026 is an early but important step toward a mainboard IPO on BSE and NSE. The company has not yet disclosed the offer dates, price band, lot size, or registrar. The next concrete milestones for investors will be SEBI observations and a subsequent public-facing draft or final offer document that includes the full terms of the issue.