India, Aug. 13 -- Bengaluru-based startup Zetwerk has filed its updated draft red herring prospectus (UDRHP), months after the markets regulator SEBI cleared its confidential filing. The proposed initial public offering (IPO) offer comprises a fresh issue of shares worth Rs.2,600 Cr and an offer-for-sale (OFS) component of up to 9.6 Cr equity shares.

The OFS component will see startup's early investors including Peak XV Partners, Lightspeed Venture Partners, Kae Capital, among others to offload parts of their stake in the contract manufacturer. The startup's promoters Amrit Acharya and Srinath Ramakkrushnan will also sell 1.4 Cr equity shares each.

The startup will utilise almost 69% of its fresh issue, around Rs.1,800 Cr, to repay/prep...