Netweb Technologies India has garnered ₹189.015 crore from anchor investors ahead of its initial public offering, which opens to public on Monday. The company has allocated 37.80 lakh shares at ₹500 a share to anchor investors.
Top foreign investors and domestic institutions such as Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF & Life Insurance, HDFC MF, WhiteOak M, and Nippon MF amongst others participated in the anchor round..
The ₹631-crore IPO of Netweb will open on July 17 and close on July 19. The price band for the offer has been fixed as ₹475 -500 a share. The IPO comprises 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.
Investors can bid for a minimum of 30 equity shares. Up to 50 per cent of the offer is reserved for Qualified institutional buyers and 15 per cent for Non-Institutional Investors. Retail investors can bid up to 35 per cent of the offer
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 incentive schemes of the Union government.
Equirus Capital and IIFL Securities are the book-running lead managers to the issue. Post-IPO, the equity shares of the company will be listed on the BSE and NSE.