Netweb Technologies IPO to open on July 17

Netweb Technologies IPO will open for subscription on July 17 and close on July 19. 

The IPO of Netweb comprises a fresh issue of equity shares up to Rs 206 crore and an offer-for-sale (OFS) of up to 8.5 million equity shares by the promoter and selling shareholders. The price band for the issue will be announced soon. Ahead of the IPO, the company has raised Rs 51 crore in a pre-IPO round from marquee institutional investors, including LG Family Trust, and Anupama Kishore Patil among others. The entire proceeds from the pre-IPO placement will be utilised for general corporate purposes.

The subscription will open for anchor investors on July 14. The equity shares are proposed to be listed on both the exchanges BSE and NSE.

The company filed its draft papers with Sebi in March this year and received regulatory approval for the same earlier this month.

Equirus Capital Private Ltd and IIFL Securities are the book-running lead managers and Link Intime India Private Limited is the registrar for the offer.

Netweb Technologies, an HCS (high-end computing solutions) provider based in India, serves a diverse range of Indian and multinational customers within the country.

Source: Media reports