Netweb Technologies India’s initial public offering (IPO) will hit the stock market on 17 July. The company has set the price band for its upcoming public issue of Rs 475-500 per share.
The public issue will remain open until 19 July. It comprises a fresh issue of shares worth Rs 206 crore and an offer-for-sale (OFS) of up to 85 lakh shares by its existing promoters and shareholders.
The company expects to raise Rs 631 crore at the upper price band through the public issue.
In the OFS, Sanjay Lodha will offload up to 28.6 lakh shares, while Vivek Lodha, Navin Lodha and Niraj Lodha will sell up to 14.3 lakh shares each. Ashoka Bajaj Automobiles LLP will sell 13.5 lakh shares in the OFS.
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Anchor Investors will be allowed to bid on 14 July, ahead of the public issue.
A single lot of Netweb Technologies IPO consists of 30 shares and the minimum investment amount required for retail investors is Rs 15,000.
Netweb Technologies India plans to use proceeds from the fresh issue for funding capital expenditure requirements worth Rs 32.3 crore, Rs 128.02 crore for funding long-term working capital requirements, and Rs 22.5 crore for repayment of outstanding borrowings.
The company is likely to finalise the IPO allotment on 24 July and start refunds on 25 July, while the shares will be credited to the demat accounts of eligible allottees on 26 July.
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Netweb Technology shares are scheduled to list on 27 July on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The IPO registrar for the issue is Link Intime India Private Ltd. Equirus Capital and IIFL Securities are the lead managers.
Netweb Technologies is a high-end computing solutions (HCS) provider. It offers high-performance computing systems; AI systems and enterprise workstations; private cloud and hyper converged infrastructure (HCI); high-performance storage solutions, data centre servers; and software and services for our HCS offerings.
