March 31 (Reuters) – India’s Zetwerk has filed confidential draft papers with the market regulator for its initial public offering, a newspaper advertisement on Tuesday showed.
Earlier this month, Reuters reported that the contract electronics manufacturer was aiming to raise up to $550 million at a valuation of about $4 billion.
The company is targeting a listing later this year, the sources said, adding that the IPO includes about $300 million in fresh equity, with the remainder coming from an offer for sale.
In India, a confidential filing allows companies to submit draft IPO papers to the Securities and Exchange Board of India for review without making them public until they decide to proceed with the offering.
India was the world’s second‑largest IPO market in 2025, LSEG data showed, but sentiment has weakened this year after a selloff in technology services stocks, with recent listings such as Fractal Analytics and Shadowfax Technologies struggling on debut.
Founded in 2018, Zetwerk supplies industries ranging from consumer electronics to aerospace and defence, with more than 10 facilities across India, the United States, Mexico and Europe. Its client base includes Samsung, Volvo and Honeywell.
(Reporting by Urvi Dugar in Bengaluru; Editing by Nivedita Bhattacharjee)
