IPO Bound Zetwerk Revamps its Board and Leadership Structure

Zetwerk, a B2B manufacturing company, has undertaken changes to its board and senior management as it moves towards a planned Initial Public Offering (IPO). The company has filed confidentially and is looking to raise up to ₹4,200 crore (about $450 million), according to The Moneycontrol reports. 

Aruna Sundararajan, former telecom and MeitY secretary, has joined the board. Co-Founder Amrit Acharya will take on the role of Chairman in addition to continuing as Chief Executive Officer (CEO). 

Leadership Roles Realigned Across Verticals 

The company has assigned specific responsibilities across its business segments. Co-founder Rahul Sharma will head the newly created Precision Business as managing director, covering electronics. Vishal Chaudhary will oversee the aerospace and defence vertical. 

Vadim Yakubov has been appointed to lead operations in the United States. In India, Subba Raju Komaravolu will head the energy and capital goods business.  

The changes define operational roles across geographies and sectors. 

Structure Linked to Listing Preparation 

As per the reports, the restructuring is for simplifying the organisational framework ahead of the listing. The revised structure is also intended to distribute responsibilities among senior executives and retain leadership. 

Separately, Zetwerk is in talks to raise $50-60 million (₹450-500 crore) in a pre-IPO funding round. The company is currently valued at around $3 billion. Proceeds may be used to strengthen the balance sheet and offer partial exits to early investors. 

Zetwerk Business Profile and Financials 

Founded in 2018, Zetwerk operates a manufacturing platform that manages supplier selection, production, quality control and logistics for customised components.  

Its product portfolio includes laptops, wearables and IT hardware, with ongoing integration into printed circuit board manufacturing. 

Financially, the company reported gross merchandise value of ₹12,798 crore in FY25, compared with ₹14,443 crore in FY24, a 11% decline. Losses narrowed to ₹371 crore from ₹918 crore in the previous year. It expects revenue to exceed $2 billion by FY26, supported by demand linked to data centre manufacturing. 

External Environment 

The IPO timeline remains dependent on broader market conditions. Ongoing geopolitical tensions in West Asia have led some late-stage companies to defer listing plans amid uncertainty. 

Read More: Reliance Jio IPO: Will Reliance Shareholders Receive Jio Shares?! 

Conclusion 

The changes to Zetwerk’s board and leadership align with its listing plans, while the company continues to monitor external factors affecting market conditions. 

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