Zetwerk Pvt, an Indian manufacturing and logistics company based in Bengaluru, is preparing for a potential initial public offering (IPO) in Mumbai.

The IPO could raise at least US$500 million, according to sources.

The company has selected several financial institutions to arrange the IPO, including Axis Capital, Goldman Sachs, Jefferies Financial Group, JM Financial, JPMorgan Chase, and Kotak Mahindra Bank.

Zetwerk is seeking a valuation of approximately US$5 billion for the listing.

This may occur as early as this year, although details regarding the size and timing remain subject to change.

Recent Zetwerk developments