Netweb Technologies India’s IPO was subscribed more than 2 times on Monday, the first day of the issue. The retail and high networth individual portion of the issue has been subscribed 3.4 times and 2.9 times, respectively. On Friday, the Delhi-based high-end computing solutions (HCS) provider had allotted shares worth Rs 189 crore to anchor investors.
Netweb has set Rs 475-500 as the price band for its maiden share sale. At the upper end of the price band, the company is valued at Rs 2,803 crore, nearly 60 times on FY23 earnings. The IPO consists of a fresh fund raise of Rs 206 crore and an offer-for-sale of Rs 425 crore. Netweb plans to use the IPO proceeds for funding capital expenditure requirements, which includes building a surface mount technology (SMT) line.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest For Top Stories News Click Here
Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
