Shares of Netweb Technologies will be listed at the exchanges today. The company has fixed the issue price at ₹500, at the upper end of the price band of ₹475-500. The issue saw an overwhelming response from all categories of investors by subscribing over 90.55 times.

The quota for qualified institutional buyers received bids for 228.91 times, while non-institutional investors’ portion was subscribed 81.81 times and retail investors 19.15 times. Employee quota was subscribed 53.13 times and employee portion 56 times.

The ₹631-crore PO comprised a fresh issue of equity shares worth ₹206 crore and an Offer For Sale (OFS) of 85 lakh equity shares by promoters and selling shareholders who included Sanjay Lodha, Vivek Lodha, Navin Lodha, Niraj Lodha and Ashoka Bajaj Automobiles LLP. 

As part of the IPO exercise, Netweb Technologies India on Friday garnered ₹189.015 crore from anchor investors ahead of its initial public offering.

Proceeds of the fresh issue to the tune of ₹32.77 crore will be used to fund capital expenditure, ₹128.02 crore to support long-term working capital, ₹22.5 crore for debt payment, besides general corporate purposes. 

The Delhi NCR-based Netweb Technologies is high-end computing solutions providers. It is one of the few original equipment manufacturers in the country and is a recipient of production-linked incentives schemes of the Union Government of India. Netweb offers top-tier computing solutions and services such as supercomputing systems, private cloud and HCI solutions, data centre servers, AI systems, enterprise workstations and HPS solutions.

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