Netweb Tech IPO subscribed 88 times so far on last day

19 Jul 2023 , 04:00 PM

As of Day 3, the initial public offering (IPO) of Netweb Technologies Ltd has been subscribed 87.95 times. The IPO commenced on Monday, July 17, and will conclude on Wednesday, July 19. This indicates a significant level of investor interest in the offering, surpassing the available shares by a substantial margin. The final subscription status will be determined once the IPO officially closes.

According to the data from the BSE at 3:50 PM, the subscription status for Netweb Technologies Ltd’s IPO is as follows:

1. Retail Investors Portion: The retail investors’ portion was subscribed 18.49 times. Bids were received for 8,29,69,950 shares against the 44,86,263 shares on offer for this segment.

2. Employee Portion: The employee portion was subscribed 49 times. The number of bids received exceeded the shares available for this segment.

3. Non-Institutional Investors (NIIs) Portion: The NIIs portion was subscribed 81.44 times. Bids were received for 15,65,89,620 shares against the 88,58,630 shares on offer for this segment.

4. Qualified Institutional Buyers (QIBs) Portion: The QIBs portion was subscribed 221.65 times. The number of bids received surpassed the shares available for this segment.

These subscription figures indicate strong demand and investor interest in Netweb Technologies’ IPO.

According to the statement filed with the exchanges, the company has allocated a total of 37.80 lakh equity shares to 25 anchor investors at the upper price band of Rs 500 per share. 

Some notable investors who participated in the anchor book include Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trustee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and Whiteoak Capital. These investors have made investments in the company ahead of its IPO and their participation in the anchor book reflects their confidence in the company’s potential.