Netweb Technologies IPO subscribed 90.36 times on Day 3

Netweb Technologies IPO, Netweb Tech IPO subscription status: Homegrown server maker Netweb Technologies' initial public offering (IPO) was subscribed 90.36 times on the third and final day of subscription. The IPO, which had a price range of Rs 475-500 a share, had a fresh issue of up to Rs 206 crore and offer for sale of up to 8,500,000 equity shares.

Netweb IPO opens for subscription status

On Wednesday, the Rs 631 crore-initial share sale received bids for 80,04,52,380 crore shares against 88,58,630 shares on offer. The category for Qualified Institutional Buyers (QIBs) was subscribed 228.91 times while the non-institutional investors part got subscribed 81.81 times. The quota for Retail Individual Investors (RIIs) was subscribed 19.15 times.

Netweb's IPO allotment date

The basis of the allotment of shares is tentatively to be finalised on July 24, Monday, whereas the credit of shares in the demat accounts of winning bidders is on July 26, Wednesday.

Netweb Technologies IPO| Should you subscribe?

Zee Business Managing Editor Anil Singhvi recommends applying for the Netweb IPO for "big listing gains" and from a long-term perspective. Read more 

Netweb's IPO listing date

The Netweb Tech stock will tentatively debut in the secondary market on July 27, i.e., it will be listed on the BSE and NSE.

Fund utilisation

Netweb Technologies aims to use the proceeds from the issue towards capex for civil construction, the purchase of machinery, long-term working capital needs, the repayment or prepayment of debts, and general corporate purposes, according to its red herring prospectus (RHP).

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