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Business News/ Markets / Ipo/  Netweb Technologies IPO Day 2: Issue booked over 4 times so far; Check GMP, subscription status, other details
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Netweb Technologies IPO Day 2: Issue booked over 4 times so far; Check GMP, subscription status, other details

Netweb Technologies IPO has been subscribed 8.77 times in the retail category and 18.09 times in the Non-institutional Investors (NII) category.

Netweb Technologies IPO opened for public subscription on July 17 and will conclude on July 19. (iStock)Premium
Netweb Technologies IPO opened for public subscription on July 17 and will conclude on July 19. (iStock)

Netweb Technologies IPO subscription status: The initial public offering (IPO) of Netweb Technologies India has received robust demand on July 18, the second day of the bidding process.

Netweb Technologies IPO has been subscribed 9.14 times on day 2 as the issue received bids for 8.09 crore shares as compared to the IPO size of 88.58 lakh equity shares.

The IPO has been subscribed 8.77 times in the retail category and 18.09 times in the Non-institutional Investors (NII) category. The portion for Qualified Institutional Investors (QIB) has been booked 2.66 times.

The employees’ quota has been subscribed 16.58 times. The company is offering a discount of 25 per share to its employees.

Netweb Technologies IPO opened for public subscription on July 17 and will conclude on July 19.

Also Read: Netweb Technologies IPO: GMP, subscription status, other details. Apply or not?

The IPO of the computing solutions provider consists of a fresh issue of shares worth 206 crore and an offer-for-sale of up to 85 lakh shares by its existing promoters and shareholders.

The company price band for the public issue has been fixed at 475-500 per share. At the upper band price, the company expects to raise 631 crore through the IPO.

The lot size for the Netweb Technologies IPO is 30 shares and retail investors can apply up to 13 lots.

The company has already raised 189 crore from anchor investors on July 14, a day ahead of the IPO opening.

Netweb Technologies IPO allotment is expected to be on July 24. Netweb Technologies shares will be listed on the stock exchanges BSE and NSE on July 27. 

Netweb Technologies IPO GMP Today

Netweb Technologies IPO GMP today, or grey market premium today, is 370 per share, as per market observers. This means the shares of Netweb Technologies are trading higher by 365 a piece than the issue price in the unlisted market.

Considering the IPO price and the GMP today, Netweb Technologies shares are expected to be listed at 870 apiece on the exchanges, which is at a premium of 74%.

Should you apply to Netweb Technologies IPO

Given its business potential, earnings growth and reasonable valuations, most analysts have assigned a ‘Subscribe’ rating to the Netweb Technologies IPO.

Nirmal Bang notes Netweb Technologies intends to leverage its presence in the fast growing HCS (High end Computing Solutions) industry with focus on developing refined, customised computing systems to address the high-end computational requirements of customers. 

“Netweb is thus able to generate high EBITDA margins and ROCE. We believe, Netweb possesses higher growth and return ratios compared to EMS players and is also available at cheaper valuations. Thus we recommend to Subscribe to the IPO," Nirmal Bank said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 18 Jul 2023, 12:51 PM IST
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