India's Zetwerk Manufacturing Businesses filed updated papers on Thursday for an initial public offering (first sale of shares to public) that seeks to raise 26 billion rupees ($272.47 million) in fresh capital, with 18 billion rupees earmarked for debt repayment. The IPO also includes an offer for sale (sale of existing shares) of 96.8 million shares by current investors. The filing comes as India's primary market regains momentum after a weak first half hurt by the Middle East war and higher crude oil prices. Since July, 22 companies have launched or announced IPOs, compared with about 27 between January and June. The filing showed Zetwerk posted fiscal 2026 revenue of 159.13 billion rupees and a pre-tax loss of 9.16 billion rupees tied to one-off charges. The company operates more than 20 manufacturing facilities serving 1,100 customers across sectors including electronics, energy, capital goods, aerospace and defence in more than a dozen countries.