Netweb Technologies IPO Subscription Status
Employees, retail investors, non-institutional investors (NIIs), and qualified instituti
onal buyers (QIBs) participated in the subscription.
Retail investors subscribed 3 times, employees subscribed 6.60 times, NIIs subscribed 3.61 times, and QIBs subscribed 3%.
The company received bids for 2,06,05,890 shares against 88,58,630 shares on offer.
Retail investors bid for 1,34,67,090 shares against 44,86,263 shares on offer.
Employees bid for 1,32,000 shares against 20,000 shares on offer.
NIIs bid for 69,40,080 shares against 19,22,685 shares on offer.
QIBs bid for 66,720 shares against 24,29,682 shares on offer.
The price band for the IPO is ₹475 to ₹500 per equity share.
Qualified institutional buyers are entitled to 50% of the offer size, high net worth individuals to 15%, and retail investors to 35%.
Netweb Technologies India raised ₹189.01 crore from anchor investors on July 14.
The company allocated 37.80 lakh equity shares to 25 anchor investors at ₹500 per share.
Key anchor investors include Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, and others.
The company aims to raise ₹631 crore through a fresh issuance of shares and promoters' offer.
The funds will be used for civil construction costs, interior development, purchase of machinery and equipment, working capital, outstanding borrowings, and general corporate objectives.
The book running lead managers are Equirus Capital Private Ltd and IIFL Securities Ltd.
The registrar to the issue is Link Intime India Private Ltd.
Key Takeaway:
Netweb Technologies Ltd's IPO received a strong response from employees, retail investors, and other categories of investors. The subscription was oversubscribed on Day 1, indicating significant market interest. The company aims to raise funds for various purposes, including infrastructure development and working capital, through the IPO.
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