Netweb Technologies makes a strong debut on D-Street, shares list at 88% premium over issue price

Netweb Technologies made a strong debut on Dalal Street today. The company listed at Rs 942.5 on the BSE, 88% premium over its issue price on the exchanges. 

The stock opened at Rs 947 on the NSE against the issue price of Rs 500 per share, while the opening price on the BSE was Rs 942.

The IPO of Netweb seen robust response from the investors and was subscribed 90.36 times at close. 

The qualified institutional buyer portion was the most subscribed with a subscription of 228.91 times, followed by non-institutional investors with 81.81 times while the retail category was subscribed 19.15 times.

The IPO comprised fresh equity of Rs 206 crore and an offer for sale (OFS) of 8.5 million equity shares. Ahead of the offer, the company had raised Rs 189 crore from anchor investors.

Source: Media Reports