Zetwerk’s initial public offering was subscribed more than three times on its final bidding day, driven largely by robust institutional investor interest. Meanwhile, Super.money, Flipkart’s payments and financial services platform, has tripled its revenue for FY26 but saw its net losses widen.
- Zetwerk IPO subscribed 3.06 times, strong QIB participation
- Super.money revenue triples to Rs 292 crore, losses widen
- PhonePe rebrands Share.Market as PhonePe Invest with new features
What happened
Zetwerk completed a Rs 5,012-crore IPO which was subscribed 3.06 times on the last bidding day, driven by strong bids from qualified institutional buyers who subscribed 4.73 times their allocation. While retail investors covered 73% of their allocation, institutional demand dominated the subscription, indicating strong market interest.
Super.money, a financial platform backed by Flipkart and Walmart, reported revenue of Rs 292.4 crore for FY26, more than tripling from the previous year. However, its net loss widened by 78% to Rs 263.8 crore, reflecting rising expenses, particularly in business promotion and employee benefits. In parallel, PhonePe rebranded its investment platform as PhonePe Invest and launched a Portfolio Optimiser tool to help users manage their investments better.
Why it matters
Zetwerk’s strong IPO subscription showcases investor confidence in India's B2B manufacturing tech sector and signals potential for high growth amid increasing industrial digitization. The company aims for a valuation near Rs 25,583 crore, attracting marquee investors trimming holdings via the offer for sale portion.
Super.money’s revenue surge illustrates growth opportunities in India’s digital credit and payments ecosystem, especially as marketplace services contribute 85% of operating revenue. However, widening losses highlight the costs associated with scaling in a competitive fintech space. PhonePe’s portfolio enhancements reflect growing interest in wealth management tools within digital payments platforms.
What to watch next
Market participants will monitor Zetwerk’s post-IPO performance and how it leverages the capital raised to scale operations and enhance product offerings in B2B manufacturing. Retail investor uptake remains an area to watch as future fundraising rounds approach.
For Super.money, the launch of the merchant discount rate on selected UPI transactions after Diwali could provide additional revenue sources starting FY27. The fintech’s ability to balance growth with cost-efficiency will be critical to its long-term sustainability.
PhonePe Invest’s newly introduced Portfolio Optimiser and rebranding efforts are expected to boost user engagement and retention. How effectively PhonePe integrates wealth management with payments could influence its competitive positioning in India’s expanding digital financial services market.