Zetwerk Manufacturing Business's initial public offering ended on 19 October 2026 subscribed 3.10 times overall, according to HDFC Sky's final-day update at 5:04 pm that day. The issue is ₹5,012.33 crore at a price band of ₹143–₹151 a share, made up of a fresh issue of about ₹2,830 crore and an offer for sale of about ₹2,182.33 crore. The issue period was 15 to 19 October.
Demand by category
Qualified institutional buyers (excluding anchors) bid 4.71 times their portion, about 46.82 crore shares against 9.94 crore on offer. Non-institutional investors bid 1.45 times, with bids above ₹10 lakh at 1.74 times and bids below it at 0.86 times. The employee quota was 1.59 times subscribed. Retail investors bid 0.77 times: about 2.54 crore shares against 3.31 crore reserved, a shortfall of roughly 77 lakh shares. Overall, about 56.66 crore shares were bid against 18.29 crore offered, from 1,99,050 applications.
Issue details
The minimum retail application is 99 shares, or ₹14,949 at the upper band. Employees get a ₹14 a share discount. Kotak Mahindra Capital is the lead manager and KFin Technologies the registrar.
Dates ahead
Allotment is due on 21 October. Refunds and share credit begin on 22 October, and listing on BSE and NSE is expected on 23 October. The report gives no grey market premium.
Key numbers
- Overall subscription: 3.10 times (As of 5:04 pm, 19 October)
- Institutional (QIB): 4.71 times (Excluding anchors)
- Retail: 0.77 times (About 77 lakh shares short)
- Issue size: ₹5,012.33 crore (Fresh issue plus offer for sale)
What boards and CFOs should note
Three points stand out. First, institutional demand carried the issue while the retail portion was not fully subscribed. Second, the issue combines new money for the company with an offer for sale. Third, the figures are from a mid-evening update, and final allotment data will follow.
Source: HDFC Sky, 19 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
