Netweb Technologies IPO to announce allotment today; check your status here

24 Jul 2023 , 10:13 AM

The initial public offer of Netweb Technologies Limited, a high-end computing solutions provider was available for subscription from July 17-19. The maiden public issue, valued at Rs 631 crore, has received a remarkable response from investors, with a subscription rate of 90.36 times. Among the subscribers, qualified institutional buyers (QIBs) stood at the forefront, bidding an impressive 228.91 times the allotted quota, setting a new record for the highest ever subscription in the QIB category.

During the subscription period, high net worth individuals (HNIs) displayed significant interest in the IPO, subscribing 81.81 times the portion set aside for them. Retail investors also showed strong participation, subscribing 19.15 times their allocated quota. Furthermore, employees of the company demonstrated substantial enthusiasm, subscribing 53.13 times the portion reserved for them.

The company is likely to announce allotment today. The bidders will have the option to check their allotment status online by logging in at the BSE website or the official registrar’s website, Link Intime India Private Ltd. As the appointed registrar of the IPO, Link Intime India Private Ltd will facilitate the allotment process and provide information to the investors regarding their allotted shares.

The IPO comprises fresh issue of equity shares worth Rs 206 crore and an offer for sale of Rs 425 crore by promoters. The company has offered its shares at a price band of Rs 475-500 per share.

The shares of the company will list on BSE and NSE on July 27.