Netweb Technologies IPO fully booked on the debut day

17 Jul 2023 , 03:56 PM

The initial public offer of Netweb technologies limited has been subscribed fully on day 1 of the offer. The issue has been subscribed 1.69 times by 3.45 PM. Click here to subscribe the IPO.

Check table for more subscription details:

Category	No.of shares offered / reserved	No.of shares offered / reserved	No. of times of total meant for the category
Qualified Institutional Buyers (QIBs)	24,29,682	47,610	0.02
Non Institutional Investors(NIIS)	19,22,685	40,36,230	2.10
Retail Individual Investors (RIIs)	44,86,263	1,05,74,340	2.36
Employee Reserved	20,000	1,13,400	5.67
Total	88,58,630	1,49,41,020	1.69

(Source: BSE)

Prior to filing the red-herring prospectus with the Registrar of Companies, Netweb Technologies raised Rs 51 crore through a private placement, also known as a pre-IPO placement. This involved the issuance of 10.2 lakh shares at a price of Rs 500 per share. As a result of this pre-IPO placement, the company has reduced its fresh issue size from Rs 257 crore to Rs 206 crore.

The pre-IPO placement saw the participation of four investors, namely LG Family Trust, Anupama Kishor Patil, 360 ONE Special Opportunities Fund – Series 8, and 360 ONE Monopolistic Market Intermediaries Fund.

Netweb Technologies possesses both design and manufacturing capabilities in-house. As of May 2023, the company has successfully installed over 300 supercomputing systems, along with more than 4,000 accelerator/GPU-based AI systems and enterprise workstations.