Zetwerk Manufacturing IPO Day 2: GMP at 9% Amid Strong Subscription Demand and Key Insights.

Zetwerk Manufacturing Business’ initial public offering (IPO) has entered its second day of bidding, showing a muted response during the opening day with an overall subscription rate of 23% against 18.50 crore shares available. The IPO consists of a fresh issue of shares worth Rs 2,830 crore and an offer for sale (OFS) of approximately Rs 2,182 crore. The price band for the offering is fixed at Rs 143–151 per share, and interested investors can apply for a minimum of 99 shares, translating to a minimum investment of Rs 14,949 at the upper end of the price band. The issue remains open until October 19, with shares tentatively expected to list on the BSE and NSE on October 23.

The grey market sentiment around Zetwerk’s IPO is currently indicating a grey market premium (GMP) of Rs 14 per share, or approximately 9.27% above the upper price band. While a positive GMP suggests potential listing gains, it serves only as an unofficial forecast and does not assure actual performance on listing day. On Day 1, Retail Individual Investors (RIIs) subscribed to 22% of shares reserved for them, while Qualified Institutional Buyers (QIBs) showed more interest with a 30% subscription rate. Non-Institutional Investors (NIIs) have exhibited a lesser response at only 9% subscription.

The muted response and the negative earnings reported in FY2026 raise some caution for potential retail investors considering Zetwerk’s IPO. With the company undertaking significant debt repayment and aiming for strategic acquisitions facilitated by the IPO proceeds, it showcases a commitment to growth, albeit with associated risks. Investors should weigh the potential listing gains against Zetwerk’s financial outlook and market demand before making investment decisions.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)