Issue Subscribed 90.36 Times
The IPO of Netweb Technologies attracted subscriptions from across the board.
MUMBAI, July 19 (The CONNECT) – The Initial Public Offering (IPO) of Delhi-NCR-based Netweb Technologies Ltd was subscribed 90.36 times on the final day of bidding with Qualified Institutional Buyer Portion breaking all records and getting subscribed 228.91 times.
According to the data available on the stock exchanges, the issue received bids of 80,04,47,730 shares against 88,58,630 offered by the company, at a price band of ₹475-500,
The Non-Institutional Investors with 81.81 times, employee portion was subscribed 53.12 times, whereas retail segment 19.15 times.
Equirus Capital Private Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar for the issue.
Netweb Technologies is one of the few OEMs in the country is a recipient of production linked incentives schemes of the Government of India under the ‘Make in India’ policy for IT Hardware (IT Hardware PLI Scheme) and Telecom and Networking Products Manufacturing in India (Telecom and Networking PLI Scheme).
Netweb has both design and manufacturing capabilities in-house 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, Samsung, AMD, NVIDIA are some of the companies it collaborates with to innovate on 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 grow its geographical footprint in Europe, Middle East and Africa (EMEA).
Between March 31, 2022 and May 31, 2023 it has almost doubled its order book value from Rs 48.56 crore to Rs 90.205 crore.
For the fiscal year 2023, the company’s revenue from operations increased 80.13% to Rs 444.97 crore against Rs 247.03 crore a year ago primarily due to an increase in the sale of Products and Services, Private cloud and HCI, Supercomputing systems, High Performance Storage Solutions and AI systems and Enterprise Workstations. Net profit for the period increased 109.04% to Rs 46.94 crore as against Rs 22.45 crore last year.
Top 10 firms with highest QIB subscription
| Company Name | Close Date | QIB (x) |
| Netweb Technologies India Limited | 19-Jul-23 | 228.69 |
| Tega Industries Limited | 03-Dec-21 | 215.45 |
| C.E. Info systems limited | 13-Dec-21 | 196.36 |
| HDFC Asset Management Company Limited | 27-Jul-18 | 192.26 |
| Data Patterns (India) Limited | 16-Dec-21 | 190.86 |
| Senco Gold Limited | 06-Jul-23 | 190.56 |
| Indigo Paints Limited | 22-Jan-21 | 189.57 |
| Tatva Chintan Pharma Chem Ltd | 20-Jul-21 | 185.23 |
| Religare Enterprises Limited | 01-Nov-07 | 184.95 |
| Future Capital Holdings Ltd | 16-Jan-08 | 180.72 |
| Harsha Engineers International Ltd | 16-Sep-22 | 178.26 |
