Netweb Technologies IPO To Open On July 17; Sets Price Band At ₹475 To ₹500


Netweb Technologies IPO To Open On July 17; Sets Price Band At ₹475 To ₹500 | Netweb Technologies

Delhi-NCR-based Netweb Technologies India Ltd a high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities has fixed the price band at ₹475 to ₹500 per Equity Share for its initial public offering of equity shares (“IPO” or “Offer”). The IPO will open on Monday, July 17, 2023, for subscription and closes on Wednesday, July 19, 2023. Investors can bid for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

Netweb Technologies is compliant with the ‘Make in India’ Policy of the Government and is one of the few OEMs in the country eligible to seek production linked incentives schemes of the Government of India for IT Hardware for manufacture of servers, and Telecom and Networking Products Manufacturing in India for the manufacture of networking and telecom products (Source: F&S Report).

Netweb Technologies has both design and manufacturing capabilities inhouse and have undertaken installation of over 300 supercomputing systems and over 4000 accelerator / GPU based AI systems and enterprise workstations as of May 2023. Intel Americas, Inc., Advanced Micro Devices, Inc., Samsung India Electronics Private Limited, Nvidia Corporation are some of the companies it collaborates with to design and innovate product offerings.

It is a high-end computing solutions (HCS) provider based in India catering to many Indian and multinational Customers based in India and is planning to grow its geographical footprint in Europe, Middle East and Africa.

Between March 31, 2022 and May 31, 2023 it has almost doubled its order book value from Rs. 48.56 crore to Rs. 90.21 crore.

In case of any revision to the Price Band, the Bid/Offer Period will be extended by at least three additional Working Days after such revision in the Price Band, subject to the Bid/Offer Period not exceeding 10 Working Days. In cases of force majeure, banking strike or similar circumstances, the Company may, in consultation with the Book Running Lead Managers, for reasons to be recorded in writing, extend the Bid / Offer Period for a minimum of three Working Days, subject to the Bid/ Offer Period not exceeding 10 Working Days. Any revision in the Price Band and the revised Bid/Offer Period, if applicable, shall be widely disseminated by notification to the Stock Exchanges, by issuing a public notice, and also by indicating the change on the website of the Book Running Lead Manager and at the terminals of the Syndicate Member(s) and by intimation to the Designated Intermediaries and the Sponsor Bank, as applicable.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders. The Offer also includes an Employee Reservation Portion of up to 20,000 Equity Shares.

Equirus Capital Private Limited and IIFL Securities Limited are the book running lead managers, while Link Intime India Private Limited is the registrar to the offer.

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper’s PDF on WhatsApp and other social media platforms.)


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

PM Modi France Visit: PM Modi Embarks On 2-Day Visit To France; This Is How His Itinerary Looks

Next Post

Bengaluru double murder: Rival internet service provider’s MD arrested

Related Posts