Zetwerk, a unicorn in business-to-business (B2B) e-commerce, is getting ready to go public in the next 12 to 24 months.
CEO Amrit Acharya told staff members that the procedure will start this fiscal year. Enhancing production, eliminating inefficiencies, and making sure every unit is financially viable will be the main priorities.
Acharya stated in a message to staff that the company wants to regularly make money on a daily, monthly, and annual basis. According to him, Zetwerk will change its approach from cost containment to balancing expansion and profitability.
With an IPO, Zetwerk hopes to raise at least $500 million and aim for a valuation of about $5 billion. In December of last year, the company received $90 million in investment, valued at $3.1 billion.
Zetwerk, which was founded eight years ago by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, links suppliers and customers for manufacturing jobs. The company collaborates with offline vendors who fabricate, machine, cast, forge, and galvanize machine parts.
From Rs. 11,448 crore in FY23 to Rs. 17,564 crore in FY24, Zetwerk's gross income increased by 53 percent. The bottom line for the most recent fiscal year (FY24), however, was not made public by the business.
Moglix, OfBusiness, and Infra.Market are competitors of Zetwerk in the B2B e-commerce market. Ofbusiness just became a publicly traded corporation by converting its holding entity. The development was exclusively reported by Entrackr. In the pre-IPO round, Infra.Market also raised $125 million.
