Zetwerk IPO flops on day one with muted subscription

Reports suggest Shopify may be planning to introduce Shop Pay in India, potentially setting up a checkout rivalry with local players.

Meanwhile, Zetwerk’s initial public offering saw a lukewarm response on its first day, with subscription figures falling well below recent IPO trends in India. According to exchange data, qualified institutional buyers showed limited interest, while non-institutional and retail investors also held back. The employee segment fared slightly better but remained underwhelming.

This underperformance contrasts with recent listings, such as Moneyview, which we reported as drawing stronger demand on its debut. Zerodha’s Nithin Kamath recently highlighted how most recent IPOs have outperformed despite broader market weakness—a trend Zetwerk’s debut appears to challenge. While Snapdeal’s parent company saw modest oversubscription, Zetwerk’s struggle raises questions about investor appetite for B2B manufacturing in the current climate.

The company’s IPO aimed to raise capital and provide an exit for existing shareholders, but the outcome suggests sector-specific skepticism may be emerging even as other listings defy market headwinds.

Sources: inc42.com · inc42.com · economictimes.indiatimes.com