Netweb Technologies IPO opens today: Things to know before investing!

The price range for Netweb Technologies’ IPO has been set at $475-$500 per share.

Delhi based high end computing solutions provider (HCS) Netweb Technologies is set to launch its IPO today. The initial public offering (IPO) will remain available for subscription for three days and close on July 19. The company has raised Rs 189 crore from anchor investors in advance of the IPO.

It had allotted about 37.80 lakh shares at Rs 500 per share, including a share premium of Rs 498 per share in the anchor round, which included participation from illustrious investors like HDFC MF, WhiteOak MF, Goldman Sachs Funds, Nomura Funds, ICICI Prudential MF and Life Insurance among others.

The company’s shares are selling for a premium of Rs 350–Rs 355 in the unlisted market.

The public issue with a face value of 2 rupees per equity share, consists of a fresh issue worth 206 crore rupees and an offer to sell 8.5 million equity shares. The offer also entitles qualified employees to reserve a subscription.

Netweb Technologies IPO lot size is 30 shares and retail investors can apply up to 13 lots.

Company is in high end computing solutions provider (HCS) and serves a variety of industries, including government agencies, national data centers, IT, IT-enabled services, media, entertainment, and BFSI.

The Company has 16 offices spread out across India and a manufacturing facility in Faridabad, Haryana. 11 times company’s three supercomputers have been ranked among the top 500 in the world.

The company reported 445 crore rupees in revenue and 46.9 crore rupees in profit for the year ending March 2023.