Roshan
Zetwerk Manufacturing, a leading player in the contract manufacturing industry, is preparing for an Initial Public Offering (IPO) within the next 15 to 24 months. The Bengaluru-based company aims to raise at least $500 million, positioning itself for a valuation of approximately $5 billion. Backed by prominent investors like Peak XV Partners and Lightspeed India Partners, Zetwerk is set to make a significant mark in India’s manufacturing sector.
Expansion and Growth Strategy
As part of its expansion strategy, Zetwerk Electronics, a subsidiary of Zetwerk Manufacturing, has inaugurated its seventh electronics manufacturing facility in Sriperumbudur, Tamil Nadu. This move aligns with India’s broader goal of strengthening its Electronics System Design and Manufacturing (ESDM) sector, which is projected to reach $500 billion. Tamil Nadu, a key beneficiary, envisions becoming a $1 trillion economy, and investments from companies like Zetwerk will play a crucial role in this growth.
A State-of-the-Art Manufacturing Hub
The newly launched 15-acre factory will focus on producing control boards for home appliances like washing machines, refrigerators, and air conditioners, alongside IT hardware. Equipped with advanced manufacturing capabilities, the facility features:
- Five Surface-Mount Technology (SMT) lines
- Manual Insertion (MI) lines
- Potting and conformal coating systems
- Rigorous quality testing processes
At full capacity, the factory will employ around 1,200 skilled professionals, contributing to job creation and technological advancements in India’s manufacturing industry.
Government Support for Electronics Manufacturing
Union Minister for Electronics and IT, Ashwini Vaishnaw, lauded Zetwerk’s contribution to India’s electronics manufacturing growth. He highlighted the development of two major Electronics Manufacturing Clusters in Tamil Nadu, with an approved budget of ₹1,012 crore. Tamil Nadu’s Minister for Industries, TRB Rajaa, also emphasized the state’s leadership in electronics exports, with a 36% share in national exports. The state aims to scale up electronics exports to $100 billion annually, and investments from companies like Zetwerk are expected to accelerate this ambition.
Aiming for Global Expansion
Josh Foulger, President of Electronics at Zetwerk, shared the company’s vision to invest ₹1,000 crore in the electronics segment. With a strong focus on the U.S. market, Zetwerk is positioning itself as a global leader in electronic manufacturing services (EMS).
CEO and co-founder Amrit Acharya emphasized Zetwerk’s mission to make India a powerhouse in global manufacturing. “We have built a full-stack EMS company that is reshaping supply chains. This new facility is a step toward realizing India’s potential in high-value electronics manufacturing,” he stated.
Strengthening India’s Global Competitiveness
Zetwerk’s Chennai facility is designed to serve as a global export hub, leveraging Indo-US trade opportunities. The company is committed to innovation, sustainability, and skill development, ensuring that India becomes a key player in global supply chains.
With its upcoming IPO and strategic investments, Zetwerk is set to play a crucial role in India’s journey toward becoming a leader in electronics manufacturing and exports. As India moves towards its $500 billion ESDM industry goal, Zetwerk is poised to be a significant contributor to this transformation.
Conclusion
Zetwerk Manufacturing’s expansion and IPO plans reflect India’s growing influence in the global manufacturing landscape. By investing in cutting-edge facilities and strengthening international trade relationships, the company is not only driving its own growth but also contributing to India’s vision of becoming a global manufacturing hub.
Stay tuned for more updates on Zetwerk’s IPO and its role in shaping India’s manufacturing future!
