Netweb Technologies India Ltd. was fully subscribed on the first day of its initial public offering. The IPO had been subscribed 1.11 times within four hours of its opening by 1:33 p.m.
The supercomputer systems manufacturer plans to raise Rs 631 crore via a fresh issue and an offer for sale.
The fresh issue will consist of equity shares aggregating Rs 206 crore, and the OFS includes 85 lakh shares. The price band is fixed in the range of Rs 475–500 per share.
The company raised Rs 189.015 crore from anchor investors ahead of its IPO. It allocated 37.8 lakh equity shares to anchor investors at Rs 500 apiece, according to a circular uploaded on BSE's website.
All You Need To Know About Netweb Technologies' IPO
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