Netweb Technologies India has opened its qualified institutional placement (QIP) issue to raise Rs 1,200 crore, sources told NDTV Profit. The company in a exchange filling hower said that it is setting the floor price at Rs 4,885.90 per share.
The company may, at its discretion, offer a discount of up to 5% on the floor price for the issue. The QIP floor price of Rs 4,885.90 represents a discount of around 6.4% to Monday's closing price of Rs 5,219.
At the maximum permitted discount, the issue price could be as low as around Rs 4,641.61 per share. The final issue price will be determined by Netweb Technologies in consultation with the book-running lead managers appointed for the QIP.
Indicative issue price could be between Rs 4,710 and Rs 4,790, with an implied 8.10% - 9.64% discount to last closing price, sources added. People in the know also added that IIFL Capital is the book running manager for the QIP.
The company had indicated that the discount, if offered, would not exceed 5% of the floor price. The final pricing will therefore depend on the outcome of the QIP process and the company's decision regarding the applicable discount.
Netweb Technologies Share Price Today
Netweb Technologies shares closed 4.23% higher at Rs 5,219 apiece on Monday. The stock has gained 6.45% over the past week and 22.96% in the last one month. On a year-to-date basis, the shares have risen 69.67%, while the stock has surged 145.6% over the past year.
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What Bofa Has To Say On Netweb Technologies
Netweb Technologies India Ltd. is among the best-placed companies to benefit from India's artificial intelligence infrastructure buildout, according to Bank of America, which initiated coverage on the multibagger stock with a 'Buy' rating and a target price of Rs 5,000. BofA's target price implies an upside of around 14% from the stock's last closing price of Rs 4,417.
The brokerage said Netweb stands out as India's leading AI compute original equipment manufacturer (OEM), backed by an asset-light business model, a long-standing partnership with Nvidia and strong visibility on future growth.
The brokerage expects India's AI infrastructure market to expand rapidly over the coming years, forecasting a 30-40% compound annual growth rate (CAGR) as demand for computing capacity accelerates across enterprises, government projects and cloud providers.
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