The Bangalore-based company has selected Axis Capital, Goldman Sachs Group, Jefferies Financial Group, JM Financial, JPMorgan Chase and Kotak Mahindra Bank as arrangers for the IPO, people said. It is said that he did. The company could seek a valuation of about $5 billion from the stock sale, with the aim of going public as early as this year, people familiar with the matter said.
Zetwork is backed by investors including Peak XV Partners and Lightspeed India Partners. The IPO discussions are preliminary and details such as size and timing are subject to change, the people said, asking not to be identified because the information is private.
A Zetwork representative declined to comment. Spokespeople for both banks did not immediately respond to requests for comment outside of normal business hours.
India’s IPOs last year raised more than $20 billion, including a record-breaking listing by Hyundai Motor Co.’s local unit, making it the world’s second-busiest market after the United States. LG Electronics is also considering an IPO for its Indian unit, and Apollo Global Management is also considering listing the Indian operations of auto parts supplier Tenneco, Bloomberg News reported on Tuesday.
Zetwerk helps connect suppliers and customers in areas such as aircraft engine manufacturing, consumer electronics, and consumer electronics.
