It had allocated about 37.80 lakh shares at Rs 500 per share, which includes a share premium of Rs 498 per share in the anchor round, which saw participation from marquee investors including Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF and Life Insurance, HDFC MF, WhiteOak MF among others.
In the unlisted market, the company’s shares are commanding a premium of Rs 350-355.
The public issue with a face value of Rs 2 per equity share comprises Rs 206 crore of fresh issue and an offer for the sale of 8.5 million equity shares. The offer also includes a reservation for a subscription by eligible employees.
The company is offering its shares in the range of Rs 475–Rs 500 per equity share. Investors can bid for 30 shares in one lot and in multiples thereafter.
The IPO will fetch Rs 631 crore at the upper end of the price band.
About 50% of the net offer is reserved for the QIB portion, 15% for the NII category, and 35% for retail investors.Netweb Technologies, an HCS (high-end computing solutions) provider based in India, serves a diverse range of Indian and multinational customers within the country.
The company’s HCS offerings comprise high-performance computing systems, private cloud, and hyper-converged infrastructure, AI systems and enterprise workstations, high-performance storage, data center servers, and software and services.
For the year ending March 2023, the company clocked revenues of Rs 445 crore, while profit stood at Rs 46.9 crore in the same period.
Proceeds from the issue will be used for funding its capital expenditure, long-term working capital, and repayment, in full or in part, of debt.
Equirus Capital and IIFL Securities are the book-running lead managers and Link Intime India Private Limited is the registrar for the offer.