Netweb Technologies is planning to raise ₹631 crore through an initial public offering (IPO). The Netweb Technologies IPO comprises a fresh issue of ₹206 crore and an offer for sale (OFS) of ₹425 crore by promoter selling shareholders. The price band for the IPO has been fixed at ₹475-500 per share.
Netweb Technologies is a high-end computing solutions (HCS) provider based in India. The company offers a wide range of HCS products and services, including servers, storage, networking, and software. Netweb Technologies’ customers include government agencies, educational institutions, and large enterprises.
Netweb Technologies IPO
The Netweb Technologies IPO opened for subscription on July 17, 2023, and closed on July 19, 2023. The bidding process was done online through the stock exchanges NSE and BSE.
The GMP (grey market premium) for Netweb Technologies IPO was around 65% on the day of the IPO opening. This means that investors who bought the shares in the grey market were paying ₹700-715 per share. The GMP has since come down to around 50%, as the market has become more cautious about the IPO.
The subscription status for Netweb Technologies IPO was strong. The retail portion was subscribed 1.8 times, while the QIB portion was subscribed 2.7 times. The NII portion was subscribed 0.7 times.
The final allotment of shares will be done on July 24, 2023. The shares will start trading on the stock exchanges on July 27, 2023.
Should you apply for Netweb Technologies IPO?
There are a few factors to consider before deciding whether or not to apply for Netweb Technologies IPO.
- The company has a strong track record and a good reputation.
- The market for HCS products and services is growing rapidly.
- The IPO is well-subscribed, which is a good sign of investor interest.
- However, there are also some risks to consider.
- The company is facing increasing competition from global players.
- The HCS market is cyclical, so there could be some volatility in the future.
- The IPO is priced at a premium to its peers, which could limit its upside potential.
- Overall, Netweb Technologies IPO is a good option for investors who are looking for exposure to the HCS market. However, investors should be aware of the risks before investing.
Here are some additional details about Netweb Technologies IPO:
The company’s net profit for the financial year 2022-23 was ₹103 crore.
The company’s revenue for the financial year 2022-23 was ₹1,213 crore.
The company has a strong balance sheet with a debt-to-equity ratio of 0.12.
The company’s management team is experienced and has a good track record.
Conclusion:
Netweb IPO is a good option for investors who are looking for exposure to the HCS market. However, investors should be aware of the risks before investing.
7.2-magnitude earthquake struck the Alaska Peninsula region on Sunday, July 17, 2023 – 99web