The Bengaluru-based company has Axis Capital Ltd., Goldman Sachs Group Inc., Jefferies Financial Group Inc., JM Financial Ltd. and JPMorgan Chase & Co. as IPO arrangers. and Kotak Mahindra Bank Ltd., it said. It could seek a valuation of about $5 billion through a share sale and is aiming to go public as early as this year, according to the people.
Zetwork is backed by investors including Peak XV Partners and Lightspeed India Partners. He said that considerations for the IPO are preliminary and details such as size and timing may change, and asked not to be identified because the information is private.
A Zetwerk spokeswoman declined to comment. A bank spokeswoman did not immediately respond to a request for comment outside regular business hours.
Last year, India’s IPO raised more than $20 billion, including the record-breaking listing of Hyundai Motor Company’s local subsidiary, making it the second busiest market in the world after the United States. LG Electronics is also considering an IPO of its Indian unit, and Apollo Global Management Inc. is considering listing auto parts supplier Tenneco Inc.’s India business, Bloomberg News reported Tuesday.
Zetwerk helps connect suppliers and customers in fields such as aircraft engine manufacturing, consumer electronics, consumer electronics, and more.
