Netweb Tech IPO Witnesses Strong Day 2 Demand at 8.03x Subscription

18 Jul 2023 , 03:43 PM

The Rs 631 crore initial public issue of Netweb Technologies Limited is being sold from July 17 to July 19 at the price range of Rs 475-500 per share. Investors can apply in 30 shares in a lot has been subscribed 8.03 times by 3.40 PM. Click here to apply for the IPO.

Netweb Technologies’ IPO is seeing high demand from all investor categories, according to data from the BSE. Non-institutional bidders (NIIs) have subscribed 14.78 times their allocated quota, while retail investors have booked 8.04 times their portion. The employee category has witnessed a remarkable subscription of 15.19 times, whereas qualified institutional bidders’ allocation was subscribed at a modest 2.61 times. 

In preparation for its IPO, Netweb Technologies has raised Rs 189 crore by allocating 37.8 lakh equity shares to 25 anchor investors at Rs 500 per share, as per a BSE circular. Anchor investors, including Nomura Funds, Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), HDFC MF, WhiteOak MF, and Nippon MF, participated in the anchor round.

Shares of Netweb Technologies will be listed on both the BSE and NSE.

Open date	July 17
Close date	July 19
Lot size	30 shares
IPO size (Rs crore)	Rs 631 crore
IPO price range (Rs)	Rs 475-500 per share
Minimum investment	Rs 15,000
Basis of allotment date	July 24
Refunds date	July 25
Credit to demat account date	July 26
Listing date	July 27