Netweb Technologies Rs 631-crore IPO to hit Street on July 17: Issue price, lot size, listing date, other key things to know
Netweb Tech IPO: Technology solutions provider Netweb Tech is all set to launch an IPO worth Rs 631 crore on July 17. Under the public offer, potential investors will be able to bid for Netweb Tech shares in a price range of Rs 475-500 in multiples of 30.
Netweb Technologies — a provider of high-end computing solutions (HCS) — is all set to launch an initial public offer (IPO) on July 17. The initial share sale, estimated to be worth Rs 631 crore, comprises fresh issuance of Rs 206 crore and an offer for sale (OFS) worth Rs 425 crore.
Here are some of the key things to know about the upcoming public offer of Netweb Tech:
Important dates/timings
The IPO will be open for subscription for three trading days, from 10 am to 5 pm, till July 19.
The basis of allotment of shares is likely to be finalised on July 24 and the credit of shares in demat accounts of winning bidders on July 26.
The Netweb Tech stock is likely to debut in the secondary market on July 27.
Issue price
Potential investors will be able to bid for Netweb Tech shares in a price range of Rs 475-500 under the IPO.
Lot size
Shares will be available for bidding in multiples of 30, translating to Rs 14,250-15,000 per lot.
Listing
Netweb Technologies shares will be listed on stock exchanges BSE and NSE.
Fund utilisation
The company aims to utilise the proceeds from the issue towards capex for civil construction, purchase of machinery, long-term working capital needs, repayment or pre-payment of debts and for general corporate purposes, according to its red herring prospectus.
Investors reservation
| Category | Reservation |
| Qualified institutional buyers | Up to 50% |
| Non-institutional investors (high net-worth individuals) | At least 15% |
| Retail investors | 35% |
Financials
Netweb Technologies registered a net profit of Rs 46.9 crore for the year ended March 31, 2023, as against a net profit of Rs 22.5 crore for the corresponding period a year ago, according to the RHP. Its revenue grew 80.1 per cent to Rs 444.9 crore for the financial year 2022-23 on a year-on-year basis.
What does Netweb Tech do?
Netweb Technologies has fully integrated design and manufacturing capabilities, and its HCS portfolio comprises high performance computing, private Cloud and human-computer interaction (HCI), AI systems and enterprise workstations, and high performance storage (HPS) and data centre servers, according to its website.
Its offices are loated in New Delhi, Faridabad, Gurugram, Bangalore, Chennai, Kolkata, Hyderabad, Mumbai, Pune, Ahmedabad, Roorkee, Dehradun, Bhubaneswar and Bhopal.
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