Netweb Technologies IPO today: 10 things to know before buying

The Netweb Technologie IPO aims to raise ₹631 crore and the company has fixed issue price at ₹475 to ₹500 per equity share.

Updated on: Jul 17, 2023, 08:37:46 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Delhi-based high-end computing solutions (HCS) provider, Netweb Technologies is set to launch its initial public offering (IPO) on Monday. Here are 10 key highlights to know before purchasing it:

Ahead of the Netweb Technologies IPO, anchor investors were allowed to bid on Friday.

It will be open for a 3-day subscription and will close on Wednesday.
The IPO aims to raise ₹631 crore and the company has fixed issue price at ₹475 to ₹500 per equity share.
The lot size is 30 shares and the minimum investment amount required for retail investors is ₹15,000, LiveMint reported.
The IPO allotment is likely to be held on July 24. The initiation of refunds is expected on July 25, while the shares will be credited to the demat accounts on July 26. Accordingly, the company will list its proposed equity shares on BSE and NSE on July 27.
Ahead of the IPO, which consists of a fresh issue of shares worth ₹206 crore and an offer-for-sale of up to 85 lakh shares, anchor investors were allowed to bid on Friday.
Proceeds from the fresh issue are set to be used to fund capital expenditure worth ₹32.3 crore. Long-term working capital requirements will take up ₹128.02 while ₹22.5 crore will be utilised to repay outstanding borrowings.
Valued at ₹94 crore on March 31, the company’s FY23 profits stood at ₹46.9 crore as against ₹22.45 crore in FY22 and ₹8.23 crore in FY21.
50% of the total IPO size is reserved for qualified institutional buyers (QIBs), while 15% is set aside for non-institutional investors (NII) and the remaining 35% will be allocated to retail individual investors (RIIs).
The selling stakeholders are the promoters. Sanjay Lodha will sell up to 2,860,000 equity shares while Ashoka Bajaj Automobiles LLP will offload 1,350,000 equity shares. Navin Lodha, Vivek Lodha, and Niraj Lodha will sell 1,430,000 equity shares each.
The book-running lead managers (BRLM) of the issue are Equirus Capital and IIFL Securities, while Link Intime India is the registrar.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Initial Public Offering

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator