B2B startup Zetwerk has filed a confidential prospectus with the markets regulator for an upcoming public listing. While specific financial details are not disclosed in confidential filings, sources suggest the IPO size is anticipated to be around ₹5,000 crore, with a substantial portion allocated for fresh capital infusion.
Key financial institutions, including Kotak Mahindra, Goldman Sachs, Pantomath Investment Banking, Morgan Stanley, HSBC, and JM Financial, are involved as merchant bankers in facilitating this significant deal.
Zetwerk’s financials for the previous fiscal year indicate an operating revenue of ₹12,798 crore, marking an 11% decline year-on-year, along with a reduced net loss of ₹371 crore compared to the previous fiscal’s ₹918 crore.
Simultaneously, the Unified Payments Interface (UPI) has shown remarkable growth in processing transactions, handling a total of 218.6 billion transactions valued at ₹284.7 lakh crore in FY26. Noteworthy peaks in transaction volume and value were observed in January, followed by a gradual decline in momentum in the subsequent months.
This IPO move by Zetwerk and the robust performance of UPI transactions underscore the evolving landscape of technology-driven financial markets and the increasing digitization of business operations.
Source: Tech-Economic Times