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Netweb Technologies IPO opens today; Check GMP, and other details here. Should you apply?

Netweb Technologies IPO opens today; Check GMP, and other details here. Should you apply?

The initial public offering (IPO) of Netweb Technologies India opens for public subscription on 17th July. The public issue will remain open for a three-day subscription and will close on 19th July.

The IPO consists of a fresh issue of shares worth Rs 206 crore and an offer-for-sale of up to 85 lakh shares by its existing promoters and shareholders.

The computing solutions provider has set the price band for the public issue at Rs 475–500 per share. The company expects to raise Rs 631 crore through the IPO at the upper price band.

On 27 July, Netweb Technologies will be listed on the NSE and BSE.

The lot size for the issue is 30 shares and retail investors can bid up to 13 lots. Up to 50 percent of the issue is booked for qualified institutional buyers (QIBs) and 15 percent for non-institutional investors. Retail investors can apply up to 35 percent of the offer.

Netweb Technologies IPO GMP Today

Netweb Technologies IPO grey market premium (GMP) today is Rs 365 per share, according to market observers. The shares are trading at a premium of Rs 365 per share in the unlisted market.

Considering the grey market premium and IPO price, the shares are likely to be listed at Rs 865 per share on the exchanges, which is at a premium of 73 percent.

Netweb Technologies India Ltd. offers High-end Computing Solutions (HCS) and serves various sectors, including IT, IT-enabled services, media, entertainment, media, BFSI, national data centers, and government entities.

The company has 16 offices across India and a manufacturing unit in Faridabad, Haryana. Its three supercomputers have been listed among the world’s top 500 supercomputers 11 times.

Netweb Technologies has raised Rs 189.015 crore from pre-IPO placement at an issue price of Rs 500 per share from marquee investors, including LG Family Trust, Nomura Funds, ICICI Prudential MF, Goldman Sachs Funds, HDFC MF, WhiteOak MF, and Anupama Kishore Patil, among others.

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