Six Bankers are Finalised by Zetwerk to Lead a $500 Million IPO in 2025

According to reports, Zetwerk, a B2B marketplace backed by Peak XV, has selected six bankers to lead a possible $500 million IPO later this year. According to an international media agency, Zetwerk has nominated Kotak Mahindra Bank, Jefferies Financial Group, Axis Capital, Goldman Sachs Group, JM Financial, and JPMorgan Chase & Co. as bankers for the impending public listing. According to the article, the company is aiming for a valuation of about $5 billion and intends to raise at least $500 million during the IPO. The size and timing of the public listing, however, could yet alter as negotiations are still in their early phases. The most recent event occurred about a month after Zetwerk's CEO and cofounder, Amrit Acharya, told an Indian news agency that the company intends to go public within the next 12 to 18 months. Additionally, this comes after assertions from November of last year that Zetwerk had begun talks with investment banker JP Morgan for a possible $1 billion initial public offering (IPO) at a valuation of "several billion dollars."

Zetwerk’s Funding Rounds Till Now

Over a month after the B2B marketplace said that it had raised over $70 million in a strategic fundraising round at a $3.1 billion valuation, Zetwerk has accelerated its market launch. Prior to its most recent fundraising round in 2023, the company was valued at $2.7 billion. In 2024, the business raised a total of $90 million from investors including UK-based Baillie Giord, Indigo cofounder Rakesh Gangwal, and Khosla Ventures. Zetwerk, which was established in 2018 by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, links manufacturers with suppliers and vendors for the purchase of industrial machine parts. According to the startup, its gross merchandise value (GMV) for the fiscal year 2023–2024 (FY24) was INR 17,564 Cr, or around $2.1 billion. In total, the business has raised over $700 million to far, with backers including Lightspeed, Greenoaks Capital, and Mars Growth Capital.

IPO Fever Raising High on India’s Startup Stecor

Indirect rivals of Zetwerk include Moglix and OfBusiness, among others. The startup has rapidly expanded its operations and strengthened its position in industries including electronics and original design manufacture over the last 12 months. As a result, Zetwerk is now the most recent Indian startup to join the IPO trend. Thirteen cutting-edge tech firms, including Go Digit, Swiggy, and MobiKwik, listed on stock exchanges and raised over INR 29,000 Cr through initial public offerings (IPOs) last year. More than twenty firms, including Ather Energy, BlueStone, CarDekho, CaptainFresh, Ecom Express, Fractal, and Infra Market, have aspirations to list on the bourses in 2025.

Urban Company to File INR 3,000 Cr IPO Draft by March-End

Urban Company is set to submit draft documents for its INR 3,000 crore IPO by the end of March, marking a significant step toward its public listing.

StartupTalkyNitin Konde