Contract manufacturing startup Zetwerk received Sebi (Securities and Exchange Board of India) approval on Friday for its initial public offering (IPO), clearing the way for one of the largest listings by a new-age manufacturing company.
The proposed IPO is expected to be around Rs 5,000 crore, including Rs 2,700-2,800 crore in fresh capital, with the remaining portion likely to be an offer for sale (OFS) by existing shareholders, ET had reported earlier . The final issue size, selling shareholders, and valuation will be determined closer to the launch through the book-building process.
