Netweb Technologies IPO Subscribed 9.14 Times On Day 2
The IPO has been subscribed 9.14 times as of 5 p.m. on July 18.
Netweb Technologies India Ltd. launched its initial public offering on July 17. The supercomputer systems manufacturer plans to raise Rs 631 crore via fresh issue and an offer for sale. The IPO was fully subscribed on day one, at 2.33 times.
The fresh issue will consist of equity shares aggregating Rs 206 crore, and the OFS includes 85,00,000 shares. The price band is fixed in the range of Rs 475–500 per share.
The New Delhi-headquartered company has already undertaken a pre-IPO placement of 10,20,000 equity shares at an issue price of Rs 500 per equity share, aggregating Rs 51 crore.
The company raised Rs 189 crore from anchor investors ahead of its IPO. It allocated 37.8 lakh equity shares to anchor investors at Rs 500 apiece, according to a circular uploaded on the BSE website.
Issue Details
Issue opens: July 17.
Issue closes: July 19.
Fresh Issue size: Rs 206 crore.
OFS size: Rs 425 crore.
Face value: Rs 2 apiece.
Fixed price band: Rs 475–500 per share.
Minimum lot size: 30 shares.
Maximum lot size: 1,95,000 shares.
Listing: NSE, BSE.
Use Of Proceeds
The funds raised will be employed for the following purposes:
Funding capital expenditure requirements for new surface-mount technology line's civil construction and machinery purchases.
Funding long-term working capital requirements.
Repayment or prepayment, in full or in part, of outstanding borrowings.
General corporate purposes.
Subscription Status: Day 2
The IPO has been subscribed 9.14 times as of 5 p.m. on July 18.
Institutional investors: 2.66 times.
Non-institutional investors: 18.09 times.
Retail investors: 8.77 times.
Employee reserved: 16.58 times.
