Netweb Technologies India Ltd, a Delhi-NCR-based high-end computing solutions (HCS) provider, has successfully raised Rs 189.015 crore from anchor investors as it prepares for its upcoming initial public offering (IPO). The company, known for its fully integrated design and manufacturing capabilities, allocated 37,80,300 shares at Rs. 500 per share, including a share premium of Rs. 498 per share, to anchor investors on Friday, July 14, 2023. This significant pre-IPO funding sets the stage for Netweb Technologies’ public subscription, which is scheduled to open on Monday, July 17, 2023.
Leading foreign investors and domestic institutions participated in the anchor round, showcasing their confidence in Netweb Technologies. Notable participants included Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF & Life Insurance, HDFC MF, WhiteOak MF, and Nippon MF, among others.
Among the total allocation to anchor investors, 22,27,680 equity shares were allocated to 9 domestic mutual funds, representing 19 schemes with an investment amount of Rs 111.384 crore. This accounts for 58.93% of the total anchor book size, further highlighting the interest and support from domestic investors.
Equirus Capital Private Limited and IIFL Securities Limited serve as the book running lead managers for the IPO, while Link Intime India Private Limited has been appointed as the registrar for the issue.
The public offering, with a face value of Rs 2 per equity share, comprises a fresh issue of Rs 206 crore and an offer for sale of 8.5 million equity shares. The offer also includes a reservation for eligible employees to participate in the subscription.
Netweb Technologies plans to open its IPO on Monday, July 17, 2023, and conclude on Wednesday, July 19, 2023. The price band for the IPO has been set between Rs 475 and Rs 500 per equity share, with the upper end of the range expected to generate Rs 631 crore in funding.
With its successful pre-IPO funding and an upcoming public offering, Netweb Technologies is poised to strengthen its position in the market and further expand its high-end computing solutions across the country.
