Netweb Technologies IPO listed with 8 percent premium, great response from investors
Netweb Technologies IPO Listing: If you invest in the stock market then this news is very important for you. Today the IPO of Netweb Technologies has been listed in the stock market. After being listed in the market, there has been a sharp jump in the stock of the company. Even before being listed in the market, experts had expressed hope that the company's stock would see a boom.
If you also invest in the stock market, then this news is very important for you. Today the IPO of Netweb Technologies has been listed in both the market indices. Shares of Netweb Technologies are listed at Rs 947 per share today. According to this, the investor has received a premium of more than 89.4 percent in the company's shares.
Netweb Technologies' IPO opens on July 17, 2023, and closes on July 19, 2023. The company has fixed a price band of Rs 475 to Rs 500 per share for its IPO. The track record of the company in the recent financial years is quite strong. The company's IPO has been listed in the market as expected by market analysts.
Qualified Institutional Buyers (QIBs) have shown a lot of interest in the company's IPO. The company has kept a 50 percent reserve for them. At the same time, an issue reserve of 15 percent has been kept for high-net-worth individuals. At the same time, 35 percent of the issue has been reserved for retail investors. On the third day, the IPO of Netweb Technologies was subscribed 90.36 times.
The IPO was subscribed 19.15 times by Retail Investors, 53.13 times by Employees' Shares, 81.81 times by NII, and 228.91 times by QIBs.
Netweb Technologies IPO raised Rs 189.01 crore through anchor investors on Friday. Nomura Funds, Goldman Sachs Funds, East Spring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trustee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, and Axis Mutual Fund have also invested in the IPO through anchor books.
The company is planning to raise Rs 631 crore through this IPO. For this, the company has issued fresh shares worth Rs 206 crore. In this, Rs 425 per share has been offered to be sold by the promoters. The company will use the amount raised in this IPO to pay off its debt, meet its corporate objectives and meet long-term working capital requirements. The Book Running Lead Managers of the Company are Equirus Capital Private Limited and IIFL Securities Limited Company.
