India-based Zetwerk is preparing for an initial public offering that could raise up to $525 million as early as next week, Bloomberg News reported Friday, citing people familiar with the matter.

The manufacturing platform is targeting a valuation of about 270 billion rupees. The offering could open Oct. 15, with listing planned for Oct. 23, though the timing and size may change, the report said.

The IPO is expected to comprise a fresh share issue worth 26 billion rupees and a sale of up to 96.84 million shares by existing shareholders, according to the prospectus.

Zetwerk did not immediately respond to MT Newswires' request for comment.

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