Indian unicorn Zetwerk has confidentially filed draft papers for an IPO, while Rentomojo is facing a legal challenge ahead of its proposed public listing.
Zetwerk files for an IPO
Zetwerk, an Indian unicorn engaged in the contract manufacturing of capital and consumer goods, has confidentially filed draft papers for an initial public offering (IPO), Moneycontrol reported.
The company, backed by Khosla Ventures, Accel, Lightspeed, Greenoaks, and Avenir, among others, is reportedly looking to raise up to Rs 4,200 crore (approximately $450 million).
Kotak Mahindra Capital, JM Financial, Avendus Capital, Pantomath Capital, and the Indian units of HSBC, Morgan Stanley, and Goldman Sachs are understood to be the bankers facilitating the proposed IPO.
RentoMojo faces a legal challenge
Rentomojo, a furniture rental marketplace, is facing a legal challenge ahead of its proposed public listing, with former co-founder Ajay Nain approaching the National Company Law Tribunal (NCLT) to seek a halt to the IPO, stated media reports.
According to the company’s draft red herring prospectus (DRHP), Nain filed the petition on March 25, 2026, before the Bengaluru bench. The petition names the company, its promoters and directors, chief financial officer, the RM Employee Benefit Trust, and its trustee, Beacon Trusteeship Limited, among others.
Nain, who exited the company in August 2023, has claimed that the information shared with him during the transaction was incomplete or inaccurate.
The matter is yet to be taken up for hearing.
