Zetwerk plans to confidentially file for IPO in 2 weeks: sources

India’s ZetWork plans to confidentially file draft papers for an initial public offering in the next one to two weeks, which aims to raise $550 million at a valuation of about $4 billion, two people with direct knowledge said.

The IPO includes about $300 million in fresh equity, with the rest to be raised through an offer for sale, the sources said.

The contract electronics maker plans to go public later this year and is working with Kotak as lead banker, while also recruiting Morgan Stanley, Goldman Sachs, Pantomath, JM Financial and HSBC, according to sources.

Zetwerk did not immediately respond to a Reuters request for comment. (Additional reporting by Praveen Paramasivam in Chennai; Editing by Anil D’Silva)