Zetwerk plans to go public in 12-24 months

Business-to-business (B2B) e-commerce unicorn Zetwerk is preparing to go public within the next 12 to 24 months. 

According to the ET report, CEO Amrit Acharya informed employees that the process will begin in the current financial year. The focus will be on increasing productivity, removing inefficiencies, and ensuring each unit is financially sustainable.

In a message to employees, Acharya said the company aims to generate income consistently at all levels—daily, monthly, and annually. He stated that Zetwerk will shift its strategy from controlling costs to maintaining a balance between growth and profitability. 

Zetwerk plans to raise at least $500 million through an IPO, targeting a valuation of approximately $5 billion. The company was valued at $3.1 billion in $90 million funding in December last year.

Founded by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk is an eight-year-old company that connects buyers and suppliers for manufacturing jobs. The firm partners with offline suppliers engaged in the fabrication, machining, casting, forging, and galvanizing of machine parts. 

Zetwerk’s gross revenue grew 53% to Rs 17,564 crore in FY24 from Rs 11,448 crore in FY23. However, the company did not disclose the bottom line for the last fiscal year (FY24). 

In the B2B e-commerce space, Zetwerk competes with Infra.Market, OfBusiness, and Moglix. Recently, Ofbusiness converted its holding entity into a public company. Entrackr exclusively reported the development. Infra.Market also raised $125 million in pre IPO round.