Zetwerk Manufacturing Business IPO Day 2: Subscribed 0.25x; QIB demand remains weak
- Total subscription reached 0.25x by end of Day 2
- QIB subscription remained flat at 0.30x
- Retail demand improved slightly to 0.29x
- Issue closes on October 19, 2026
*this image is generated using AI for illustrative purposes only.
Zetwerk Manufacturing Business IPO closed Day 2 with a total subscription of 0.25x. QIB demand remained flat at 0.30x, while Retail interest ticked up to 0.29x.
Subscription Status
The issue witnessed minimal momentum on the second day of the subscription window. The overall subscription level remained significantly below the 1x threshold, indicating subdued market appetite. QIB participation did not change from the previous day, while Non-Institutional Investors (NII) saw a slight uptick in both high-net-worth categories.
Intra-day Timeline
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.30x | 0.11x | 0.27x | 0.24x |
| 12:15 | 0.30x | 0.11x | 0.29x | 0.25x |
Category-wise Breakdown
Retail investors emerged as the strongest category relative to others, though absolute subscription levels remain low. The following table details the end-of-day subscription multiples for each investor category on Day 2:
| Category | Subscription (Day 2) | Change from Day 1 |
|---|---|---|
| QIB | 0.30x | Flat |
| NII (bHNI) | 0.11x | +0.02x |
| NII (sHNI) | 0.11x | +0.02x |
| Retail | 0.29x | +0.07x |
| Employees | 0.36x | Data not provided for Day 1 |
| Total | 0.25x | +0.02x |
Offer Details
The Zetwerk Manufacturing Business IPO has a price band of ₹143.00 - ₹151.00 per share. The minimum bid quantity is set at 99 shares. The issue size ranges from ₹14,157 crore to ₹5,00,000 crore depending on the final price and structure.
What's Next
The subscription window for the Zetwerk Manufacturing Business IPO is scheduled to close on October 19, 2026. Allotment is expected to be finalized by October 21, 2026, with listing anticipated on October 23, 2026.
How will the significantly undersubscribed status influence the final pricing decision relative to the ₹143-151 band?
What specific valuation concerns or sector headwinds are driving the flat QIB demand for Zetwerk?
Is there a risk of the IPO being postponed or withdrawn if subscription levels do not improve by the Day 3 close?
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