Zetwerk is pursuing an initial public offering that earlier reporting said could raise $400 million to $550 million at a valuation of about $4 billion, and it has now filed updated papers for a 26 billion-rupee ($272.47 million) fresh issue alongside an offer for sale of 96.8 million shares by existing investors. The Bengaluru-based manufacturing platform plans to use 18 billion rupees of the fresh proceeds to repay debt, with the rest for corporate purposes and potential acquisitions. SEBI, India's market regulator, approved the company's confidentially filed draft papers on July 9, 2026, giving Zetwerk an 18-month window to launch the deal into early 2028. Ahead of the IPO, the company raised about $52 million, or 500 crore rupees, in a pre-IPO round at the same $4 billion valuation. Zetwerk reported fiscal 2026 revenue of 159.13 billion rupees and a pre-tax loss of 9.16 billion rupees linked to one-off charges.