Bengaluru: India’s startup IPO pipeline gathered further momentum on Friday as manufacturing platform Zetwerk, furniture rental company Rentomojo and defence technology firm Tonbo Imaging received Sebi approval for their proposed public issues.According to sources, Zetwerk plans to raise Rs 4,000-5,000 crore through its IPO. Rentomojo’s issue comprises a fresh issue of shares worth up to Rs 150 crore and an offer for sale (OFS) of up to 2.8 crore shares, while Tonbo Imaging’s IPO is entirely an OFS of up to 1.8 crore shares by existing shareholders.The approvals come as a growing number of venture-backed startups prepare to tap the public markets amid improving investor sentiment. Companies such as Zepto and Cultfit are also working towards public listings.Backed by investors including Khosla Ventures, Peak XV Partners, Accel, Baillie Gifford, Lightspeed and IndiGo co-founder Rakesh Gangwal, Bengaluru-based Zetwerk operates a technology-led manufacturing marketplace that connects industrial customers with manufacturing partners across sectors including electronics, defence, aerospace, energy and capital goods.Rentomojo, backed by Accel, Chiratae Ventures and Bain Capital Ventures, offers subscription-based furniture and appliance rental services.Bengaluru-based Tonbo Imaging develops advanced imaging, surveillance and electro-optics systems for defence and security applications, supplying products to defence and aerospace customers in India and overseas.
