Whalesbook
So, Zetwerk ek $3 Billion ka IPO laane ki soch raha hai, jiska matlab hai ₹25,000 Crore se bhi zyada! Lekin yeh time thoda tricky hai. Duniya bhar mein jo tensions chal rahi hain, usse market mein uncertainty badh gayi hai. Middle East mein jo problems hain, uske karan supply chains disturb ho rahi hain, oil prices badh rahe hain aur investors filhal safe khel rahe hain. Isi wajah se kai companies ne apne IPOs postpone kar diye hain, jaise PhonePe, Loveholidays, aur Dometic Group. Zetwerk ne abhi plans pause nahi kiye hain, par yeh situation unke liye bada challenge hai. Indian market mein bhi foreigners paisa nikal rahe hain aur kuch companies toh IPO price se neeche trade kar rahi hain.
Leadership mein bade changes!
Is public debut se pehle, company ne apni leadership ko bhi reset kiya hai. Aruna Sundararajan, jo pehle Telecom Secretary thi, unhe board mein liya gaya hai. Yeh unke tech aur policy knowledge ke liye bahut beneficial hoga. Amrit Acharya ab Co-founder aur Chairman ban gaye hain. Rahul Sharma aur Vishal Chaudhary bhi apne naye roles mein — Precision Business aur aerospace/defence vertical ko sambhalenge. Yeh sab changes operations ko smooth karne aur growth ko speed dene ke liye hain.
Financials ka kya scene hai?
Ab aata hai sabse important part — paise ki baat. IPO ka target toh bada hai, par company ke numbers pe nazar daalni padegi. FY25 mein unka Gross Merchandise Value (GMV) 11% gir kar ₹12,798 Crore ($1.5 Billion) ho gaya tha, jo FY24 mein ₹14,443 Crore tha. Achhi baat yeh hai ki unka net loss kam hokar ₹371 Crore ho gaya hai FY25 mein, jo FY24 mein ₹918 Crore tha. Lekin investors consistency chahte hain. Competition ki baat karein toh Dixon Technologies aur Syrma SGS Technology jaise players 35-78x ke PE ratio par trade kar rahe hain. Zetwerk ka valuation target sach mein ambitious lag raha hai, especially jab India ka manufacturing sector bhi slow down ho raha hai aur PMI index bhi neeche aaya hai.
Aage ka plan aur doubts
Company ko lagta hai ki FY26 end tak unki revenue $2 Billion cross kar jayegi, mainly AI data centers aur manufacturing deals se. Woh printed circuit board (PCB) production bhi start karne wale hain taaki supply chain par control badhe. Lekin long-term mein unki asset-light model aur supplier quality ko lekar bhi investors ke questions ho sakte hain. Poora khel market ke stable hone aur company ke consistent profit dikhane par nirbhar karega.