Monday’s five, from a snacks brand with four suitors to two IPOs that priced within hours of each other.
Four FMCG houses are looking at Farmley
The Economic Times reported on Monday that Emami, ITC, Britannia and Orkla India are each examining a stake in Farmley, the Delhi dry-fruit and healthy-snacking brand, in a deal that would value it at about Rs 2,000 crore. Early investors holding a combined 31% have put their shares up; the founders hold 32% and have not said whether they will join them. Farmley’s revenue was Rs 396 crore in FY25, up 72%, with about 80% of it online. The company calls the approaches routine. At roughly five times revenue, a buyer is likely paying for that online shelf rather than the factory. (Economic Times)
Zetwerk priced its Rs 5,012 crore IPO at Rs 143-151
Zetwerk’s manufacturing business set its band on Monday: a fresh issue of Rs 2,830 crore plus an offer for sale of 14.45 crore shares, with anchors bidding on October 14 and the book open from October 15 to 19. Both halves grew in the final filing, the offer for sale by 49%, with Lightspeed, Peak XV and Accel all selling. Revenue from continuing operations was Rs 15,913 crore in FY26 against Rs 11,332 crore a year earlier, and the Q1 FY27 loss narrowed 93% to Rs 64 crore. Holders asking for more room alongside the company reads, on these numbers, as confidence rather than a rush. (Entrackr)
Tessolve raised $75 million from a first-time India investor
Tessolve Semiconductor, the chip engineering services company owned by Hero Electronix, raised $75 million on Saturday in a round led by Vector Line Capital. It is the US fund’s first cheque into India, and TPG is already on the register. Tessolve does design, test and validation work for chipmakers rather than making chips. India’s semiconductor money has gone overwhelmingly into fabrication plants that take years to ship anything; the engineering layer around the global chip industry bills from the first month. That difference is perhaps what a first-time investor is buying. (Entrackr)
Kawasaki opens Z300 bookings a day before the price
Kawasaki revealed the Z300 in India on Monday, the naked version of the Ninja 300 using the same 39hp parallel-twin. Bookings open on October 19; the price is announced on October 20. Buyers are being asked to put money down a day before they know what the motorcycle costs, which only works if the badge and the engine are doing the selling. The 300-400cc class is where nearly every international brand in India now competes, and a naked bike on an existing Ninja platform is the cheapest way to add a model to that fight. (Autocar Professional)
Tonbo Imaging’s entire IPO is a shareholder exit
Tonbo Imaging India set a band of Rs 665-700 for an Rs 852 crore issue opening October 15, the same window as Zetwerk’s. All of it is an offer for sale of 1.22 crore shares, so the company receives none of the money. Tonbo makes thermal imaging cores, weapon sights, targeting systems and missile seekers for armed forces and defence manufacturers. A pure exit in a category that absorbs capital for capacity and long government order cycles means the business is either already funded or deliberately keeping its equity base small. (Free Press Journal)
The full edition, with the deeper reads and today’s briefs: https://theinsightlabs.in/daily/2026-10-12
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