Zetwerk Manufacturing Businesses on Thursday filed updated papers for an initial public offering through which it aims to raise Rs 26 billion ($272.47 million) in fresh capital, as the contract manufacturer seeks to pare debt.
It plans to use Rs 18 billion to repay debt, with the remainder set for corporate purposes and potential acquisitions.
The public filing comes at a time when India's primary market is reviving after a subdued first half of the year due to the impact of the Middle East war and a spike in crude oil prices.
As many as 22 companies have either launched or announced IPOs since July, compared to about 27 public issues between January and June.
Zetwerk's FY26 revenue was Rs 159.13 billion, while it reported a pre-tax loss of Rs 9.16 billion on one-off charges, the filing showed.
It has more than 20 manufacturing facilities catering to 1,100 customers across sectors including electronics, energy, capital goods, aerospace and defence in more than a dozen countries.
Its customers include French industrial group Schneider Electric, India's top refiner Indian Oil, Germany's Siemens and Taiwanese technological goods brand Acer.
