Market Chatter: Zetwerk Targets $400 Million India IPO in September

MT Newswires Live08-13 08:26

Indian contract manufacturer Zetwerk is moving forward with plans for an initial public offering in India that could raise up to $400 million, Bloomberg reported Wednesday, citing people familiar with the matter.

The company has reportedly made a confidential IPO filing in March, and is expected to submit updated papers this week. Zetwerk plans to launch its IPO as soon as September, the sources reportedly told Bloomberg.

Kotak Mahindra(BOM:500247, NSE:KOTAKBANK), JM Financial (BOM:523405, NSE:JMFINANCIL), Avendus Capital and the Indian arms of HSBC, Morgan Stanley, and Goldman Sachs are expected to manage the offering, the report said.

Zetwerk, Kotak, JM Financial, Avendus, HSBC India, Morgan Stanley, and Goldman Sachs did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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