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Zetwerk files confidential IPO papers: Report

EntrackrEntrackr ยท 3h ago
Zetwerk files confidential IPO papers: Report
Medial

Zetwerk files confidential IPO papers: Report B2B ecommerce unicorn Zetwerk has filed draft papers for an initial public offering through the confidential route, according to Moneycontrol. The company plans to raise up to Rs 4,200 crore (around $450 million) via the issue. Separately, an ET report said Zetwerk is considering a Rs 500 crore pre-IPO round at a $3 billion valuation ahead of the listing. Founded in 2018, Zetwerk runs a contract manufacturing platform that serves sectors such as consumer electronics, aerospace, and industrials across global markets. The companyโ€™s gross revenue declined 11% to Rs 12,798 crore in FY25 from Rs 14,443 crore in FY24. Its losses narrowed 60% to Rs 371 crore in FY25 from Rs 918 crore in FY24. Zetwerk has raised $889 million so far. Its backers include Greenoaks, Peak XV Partners, Lightspeed Venture Partners, and Accel. Entrackr has reached out to Zetwerk for comment on IPO draft paper filings. Zetwerkโ€™s competitor Infra.Market had already filed a confidential draft paper with SEBI for a Rs 5,000 crore IPO in October last year and received SEBIโ€™s nod in January this year. OfBusiness, the largest player in the space, is also planning an IPO of up to $1 billion but has not disclosed a definitive timeline.

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Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO

EntrackrEntrackr ยท 6m ago
Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO
Medial

Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO Building materials unicorn Infra.Market has filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore through an initial public offering (IPO), according to sources aware of the development. The proposed issue is expected to be a mix of fresh equity shares and offer-for-sale (OFS) by existing investors, in almost equal proportion. The Bengaluru-based firm has taken advantage of SEBIโ€™s confidential filing mechanism, introduced last year, which allows companies to keep sensitive financial and strategic details under wraps until closer to listing. Infra.Marketโ€™s move comes just weeks after it raised $83 million in a Series G round led by Silverline Homes, with participation from Tiger Global, Accel, Nexus Ventures, NK Squared, and Evolvence India. Earlier in June, the Bengaluru-based company also secured $150 million in debt funding from Mars Growth Capital. On the financial front, Infra.Market reported a 23% year-on-year jump in revenue to Rs 14,530 crore in FY24, while its profit surged 2.4X to Rs 378 crore. The FY25 numbers are yet to be disclosed. The firm operates in a competitive space with OfBusiness, Zetwerk, and Moglix. OfBusiness clocked Rs 19,296 crore in revenue in FY24, while Zetwerk and Moglix posted Rs 14,436 crore and Rs 4,964 crore, respectively. By opting for the confidential filing route introduced by SEBI last year, Infra.Market joins the likes of PhonePe, Meesho, Shadowfax, PhysicsWallah, Groww, Shiprocket, boAt, and Aequs, which have kept their draft filings under wraps until closer to listing.

OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation

EntrackrEntrackr ยท 2m ago
OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation
Medial

OYO's parent PRISM files confidential papers with SEBI, eyes $7โ€“8 Bn valuation PRISM, the parent of OYO, has filed confidential draft IPO papers with the Securities and Exchange Board of India (SEBI), according to sources aware of the development. The filing follows shareholdersโ€™ approval at an Extraordinary General Meeting (EGM) held on December 20, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares. The proposed public offering is expected to value the company in the range of $7โ€“8 billion, people familiar with the matter said. The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs, and Citibank as book running lead managers for the proposed IPO and has since added more banks to the syndicate. PRISM first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a revised filing with updated financial and operational disclosures. The company later withdrew its IPO plans amid elevated global market volatility. Since then, the company has expanded its operations across India and international markets and added to its premium portfolio through brands such as SUNDAY Hotels and Palette. It has also strengthened its overseas presence through the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6. For the quarter ended June 2025 (Q1 FY26), the company reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore. The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.

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