Nomura, Goldman Back Netweb IPO

Netweb Faridabad Facility

Nomura, Goldman Back Netweb IPO

Rs 189 Cr Raised From Anchor Investors

Netweb IPO Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter

MUMBAI, July 14 (The CONNECT) – Ahead of its IPO launch on Monday, Delhi-NCR-based Netweb Technologies India Ltd today garnered Rs 189 crores from anchor investors.

The company informed the bourses that it allocated 37,80,300 shares at Rs. 500 per share, which includes share premium of Rs. 498 per to anchor investors.

Top Foreign Investors and Domestic Institutions like Nomura Funds, Goldman Sachs Funds, ICICI Prudential MF & Life Insurance, HDFC MF, WhiteOak MF and Nippon MF amongst others participated in the anchor round.

Out of the total allocation of 37,80,300 equity shares to the anchor investors, 22,27,680 equity shares were allocated to 9 domestic mutual funds through a total of 19 schemes amounting to Rs 111.384 crore i.e. 58.93 % of the Total Anchor Book Size.

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 Ltd, the country’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities, is scheduled to open its IPO with a face value of Rs 2 per equity share.

The issue comprises Rs 206 crore of fresh issue and an offer for sale of 8.5 million equity shares. The offer also includes a reservation for a subscription by eligible employees.

The price band for the Offer that closed on Wednesday,  has been determined at Rs 475 – Rs 500 per equity share. 

The IPO will fetch Rs 631 crore at the upper end of the price band.

Investors can bid for a minimum of 30 equity shares and in multiples of 30 equity shares thereafter.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.

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