Zetwerk Eyeing IPO In 24 Months: CEO Amrit Acharya

SUMMARY

Zetwerk cofounder and CEO Amrit Acharya said that the startup is now eyeing an IPO in the next 15-24 months

Earlier, a report said that Zetwerk had finalised Axis Capital, Goldman Sachs Group and Kotak Mahindra Bank as bankers for its potential IPO in late-2025

The B2B manufacturing unicorn now plans to focus on scaling up its electronics manufacturing business

A month after it was reported that Zetwerk

had finalised bankers for its initial public offering (IPO), the B2B manufacturing major seems to have postponed its public listing plans.

As per a Reuters report, Zetwerk cofounder and CEO Amrit Acharya said that Zetwerk is now eyeing an IPO in the next 15-24 months. This effectively means that the B2B manufacturing major now plans to list on the bourses by 2027.

Acharya, while specifying the fresh IPO timeline, said that the startup still has “room” to invest in its electronics business. “Global companies are moving production to India. This is happening today; this will happen once in our lives probably,” he said.

Meanwhile, Josh Foulger, president of electronics at Zetwerk, said that India is going to be a long-term bet for any global supply chain.

This comes a month after a report said that the Peak XV Partners-backed B2B marketplace had finalised Axis Capital, Goldman Sachs Group and Kotak Mahindra Bank as bankers to helm its potential IPO in late-2024.

Zetwerk was said to be looking to raise $400 Mn to $500 Mn via the IPO at a valuation of nearly $5 Bn.

However, the Bengaluru-based unicorn appears to have postponed its IPO plans at a time when the Indian equities market is undergoing a major correction.

Meanwhile, Zetwerk inaugurated a new manufacturing unit in Chennai today for electronics components. The facility will produce control boards for refrigerators, washing machines, IT hardware, and air conditioners.

This comes after the startup, last year, said that it would invest INR 1,000 Cr to shore up its electronic manufacturing services (EMS). In January this year, it announced three key appointments to shore up its EMS business.

Founded in 2018 by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwork offers manufacturing services to businesses. It caters to sectors such as electronics, consumer goods, solar, automotive, construction, defence and aerospace, among others.

In March 2025, Inc42 exclusively reported that the unicorn had secured INR 43 Cr in a round co-led by Arc Investments and Oriental Biotech Limited. Last year, it bagged $90 Mn from multiple investors at a valuation of nearly $3.1 Bn.