Jul 17, 2023 08:37 AM IST
The Netweb Technologie IPO aims to raise ₹631 crore and the company has fixed issue price at ₹475 to ₹500 per equity share.
Delhi-based high-end computing solutions (HCS) provider, Netweb Technologies is set to launch its initial public offering (IPO) on Monday. Here are 10 key highlights to know before purchasing it:
- It will be open for a 3-day subscription and will close on Wednesday.
- The IPO aims to raise ₹631 crore and the company has fixed issue price at ₹475 to ₹500 per equity share.
- The lot size is 30 shares and the minimum investment amount required for retail investors is ₹15,000, LiveMint reported.
- The IPO allotment is likely to be held on July 24. The initiation of refunds is expected on July 25, while the shares will be credited to the demat accounts on July 26. Accordingly, the company will list its proposed equity shares on BSE and NSE on July 27.
- Ahead of the IPO, which consists of a fresh issue of shares worth ₹206 crore and an offer-for-sale of up to 85 lakh shares, anchor investors were allowed to bid on Friday.
- Proceeds from the fresh issue are set to be used to fund capital expenditure worth ₹32.3 crore. Long-term working capital requirements will take up ₹128.02 while ₹22.5 crore will be utilised to repay outstanding borrowings.
- Valued at ₹94 crore on March 31, the company’s FY23 profits stood at ₹46.9 crore as against ₹22.45 crore in FY22 and ₹8.23 crore in FY21.
- 50% of the total IPO size is reserved for qualified institutional buyers (QIBs), while 15% is set aside for non-institutional investors (NII) and the remaining 35% will be allocated to retail individual investors (RIIs).
- The selling stakeholders are the promoters. Sanjay Lodha will sell up to 2,860,000 equity shares while Ashoka Bajaj Automobiles LLP will offload 1,350,000 equity shares. Navin Lodha, Vivek Lodha, and Niraj Lodha will sell 1,430,000 equity shares each.
- The book-running lead managers (BRLM) of the issue are Equirus Capital and IIFL Securities, while Link Intime India is the registrar.
