Bengaluru-based contract manufacturing agency Zetwerk is reportedly making ready to file papers for an IPO to boost as much as $750 million, based on a Bloomberg report. 

The report stated that the corporate, which grew to become unicorn in 2021, has appointed Kotak Mahindra Capital, JM Monetary Companies, Avendus Capital and the Indian models of HSBC, Morgan Stanley and Goldman Sachs to handle the proposed challenge. Zetwerk is anticipated to file its draft prospectus early subsequent yr by the confidential route.

The supply is prone to embody a mixture of recent shares and a proposal on the market, and the recent challenge is anticipated to type the larger portion. Discussions are nonetheless ongoing, and the scale and timing of the providing might change, the report famous.

In April, the corporate had indicated that it aimed to go public inside 12 to 24 months. For FY24, Zetwerk reported working income of about Rs 14,596 crore and a web lack of round Rs 919 crore.

To date, it has raised greater than $800 million from Lightspeed, Greenoaks, Accel, Avenir and Khosla Ventures. Earlier in January this yr, Zetwerk made a series of high-profile hires for its electronics manufacturing companies division.