Contract manufacturing platform Zetwerk has received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering.
The green light allows the company to move forward with the book-building process, where final pricing and allocation details will be determined by investor demand.
The offering is expected to comprise both a fresh issue of shares and an offer for sale by existing shareholders.
This structure suggests that current investors may be looking to exit or reduce stakes, while the company itself aims to raise fresh capital for expansion or balance sheet strengthening.
Zetwerk’s approval comes as part of a broader wave of Indian companies accessing public markets.
The regulator recently cleared the path for defence imaging specialist Tonbo Imaging as well, signaling a steady pipeline of listings across different sectors.