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Zetwerk To Invest INR 500 Cr To Expand Renewables Manufacturing Capacity

Inc42 · 10m ago

Zetwerk To Invest INR 500 Cr To Expand Renewables Manufacturing Capacity

- Zetwerk plans to expand in the offshore wind segment in the US and Europe through a new investment. - The investment will be funded through a mix of debt and equity from Zetwerk's balance sheet. - The company sees the solar sector in India and the US as a long-term opportunity, in line with India's target to reach 500 gigawatts of solar energy generation capacity by 2030. - Zetwerk has initiated discussions with investment banker JP Morgan and other banks to explore the possibility of a public listing within the next two years.

Related News

Peak XV-Backed Zetwerk Eyes $1 Bn IPO

Inc42 · 8m ago

Peak XV-Backed Zetwerk Eyes $1 Bn IPO

Zetwerk, a startup, is planning to raise $1 billion through an initial public offering (IPO) after engaging in talks with JP Morgan. The company is currently in discussions with investment bankers to prepare for its public listing in Mumbai next year. Zetwerk had previously announced plans to invest INR 500 crore to expand its manufacturing capacity for the renewables sector.

Dixon Lines Up India Investment Of Up To INR 1800 Cr

Inc42 · 1y ago

Dixon Lines Up India Investment Of Up To INR 1800 Cr

Dixon Technologies plans to invest INR 1,500-1,800 Cr in India over the next three years to expand production capacity and component manufacturing. The company aims to invest over INR 500 Cr this year and is open to raising funds for potential acquisitions. Dixon Technologies also plans to enter the electric vehicle market by manufacturing components like electronic modules.

Unicorn startup Zetwerk to invest Rs 1,000 crore to expand electronics manufacturing capacity

IndianStartupNews

IndianStartupNews · 1y ago

Unicorn startup Zetwerk to invest Rs 1,000 crore to expand electronics manufacturing capacity

Zetwerk, a manufacturing unicorn valued at $2.8 billion, plans to invest ₹1,000 crore to expand its electronics manufacturing capabilities. The investment will boost production in areas such as IT hardware, mobile phones, and wearables. Zetwerk aims to become the leading original design manufacturer (ODM) and electronics manufacturing services (EMS) provider in these segments. The company plans to increase its manufacturing footprint by expanding from 16 to 60 assembly lines across six manufacturing facilities. They are also constructing a high-capacity facility in Bengaluru and setting up a large TV manufacturing facility.

Indigo cofounder Rakesh Gangwal invests $20 million in Zetwerk via Wheelhouse Venture Capital

Economic Times

Economic Times · 1y ago

Indigo cofounder Rakesh Gangwal invests $20 million in Zetwerk via Wheelhouse Venture Capital

Bangalore-based contract manufacturing startup Zetwerk has secured $20 million in fresh investments from venture debt and private equity firm Wheelhouse Venture Capital, with funding coming from Indigo Airlines' co-founder Rakesh Gangwal. Zetwerk is a managed marketplace that connects industrial and consumer enterprises with a global network of manufacturers. The company plans to expand its presence in the consumer electronics sector and invest over INR 1,000 crore ($134 million) in the next three years. Zetwerk aims to enter the electric vehicle components manufacturing industry and is planning to establish three new manufacturing facilities in south India.

Zetwerk earmarks Rs 1,000 crore investments to grow its electronics business

Economic Times

Economic Times · 1y ago

Zetwerk earmarks Rs 1,000 crore investments to grow its electronics business

Zetwerk, a manufacturing unicorn, has announced a Rs 1,000-crore investment to expand its electronic manufacturing capacity in various product segments, including IT hardware, mobile phones, and wearables. The company aims to become a leading original design manufacturer and electronics manufacturing services provider. It plans to increase its assembly lines from 16 to 60 across six facilities and is also investing in high-capacity computer device manufacturing. Zetwerk sees India's electronics manufacturing sector experiencing a transformative shift and aims to contribute to the country's development through this expansion. Additionally, the company has entered the TV manufacturing sector.

Zetwerk Bags Order From Indian Oil To Set Up 1,400 EV Chargers

Inc42 · 1y ago

Zetwerk Bags Order From Indian Oil To Set Up 1,400 EV Chargers

Contract manufacturing unicorn Zetwerk has received an order from the Indian Oil Corporation (IOC) to set up over 1,400 electric vehicle (EV) chargers at IOC's petrol stations across India. Zetwerk will deploy chargers with capacities of 50-60 kW and 100-120 kW, capable of charging two vehicles simultaneously. This deal is seen as a significant win for Zetwerk as it expands in the renewable energy sector after venturing into IT hardware and EV component manufacturing last year. The startup has also allocated INR 1,000 crore ($122 million) to invest in electronics manufacturing.

IPO-Bound SAEL to Spark Solar Surge with INR 5,000 Cr UP Mega Plant

StartupTalky

StartupTalky · 2m ago

IPO-Bound SAEL to Spark Solar Surge with INR 5,000 Cr UP Mega Plant

SAEL plans to invest INR 5,000 crore in establishing a 5 GW solar cell manufacturing plant in Uttar Pradesh to capitalize on government policies promoting local renewable energy suppliers. This Delhi-based, IPO-bound company will expand its solar cell production capabilities, adding to its existing facilities in Rajasthan and Punjab. SAEL also aims to increase its solar power generation capacity to 15 GW within four years, integrating battery storage systems and expanding its waste-to-energy initiatives.

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

VCCircle

VCCircle · 3m ago

I Squared-backed Hexa acquires Fortum's India renewables arm; to invest $500 mn

Hexa Climate Solutions, supported by I Squared Capital, acquired Fortum's India renewables arm, including a 206 MW renewables portfolio and a 600 MW project pipeline. The acquisition, although undisclosed in value, reinforces India's renewable energy goals. Hexa plans to invest $500 million to expand its clean energy platforms across the country and emerging markets. This transaction marks Fortum's exit from India, aligning with its strategy to concentrate on its home market.

Zetwerk, Smile in deal to set up three IT hardware factories

Economic Times

Economic Times · 1y ago

Zetwerk, Smile in deal to set up three IT hardware factories

Zetwerk, a contract manufacturing unicorn, has partnered with Smile Electronics to set up three advanced IT hardware production factories in India. The first factory will be established near Bengaluru, followed by ones in Tamil Nadu and Andhra Pradesh. The factories will have automated production lines for assembling, testing, and packing IT products such as desktops, laptops, energy meters, and remote controls. This partnership will enable both companies to have a pan-India presence in electronics manufacturing, with a combined capacity of approximately 1.8 million units per year. Zetwerk plans to expand its electronics manufacturing capabilities and become a leading original design manufacturer in the sector.

Two electronics clusters worth Rs 1,112 crore to be set up in Tamil Nadu: Union minister Ashwini Vaishnaw

Economic Times

Economic Times · 4m ago

Two electronics clusters worth Rs 1,112 crore to be set up in Tamil Nadu: Union minister Ashwini Vaishnaw

Union Minister Ashwini Vaishnaw announced the establishment of two electronics manufacturing clusters worth Rs 1,112 crore in Tamil Nadu. Inaugurating Zetwerk Electronics' facility in Sriperumbudur, he highlighted the growth of the electronics sector, now India's second-largest export industry. The Zetwerk plant is part of a Rs 1,000 crore investment, expected to employ 1,500 people. The new clusters in Kancheepuram and Thiruvallur aim to bolster the state's electronics manufacturing capacity.

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