 "IPO of Netweb Technologies garners more than 90 times subscription")
Don't want to miss the best from Business Standard?
Netweb Technologies India’s initial public offering (IPO) garnered more than 90 times subscription, generating bids worth Rs. 40,000 crore. The qualified institutional buyer (QIB) portion of the issue was subscribed a record 229 times, while retail and high networth individual (HNI) portions were subscribed 19.2 times and 82 times, respectively. Netweb has set Rs. 475-500 as the price band for its maiden share sale. At the upper end of the price band, the company is valued at Rs. 2,803 crore, nearly 60 times on FY23 earnings.
The IPO consists of a fresh fund raise of Rs. 206 crore and an offer-for-sale of Rs. 425 crore. Netweb plans to use the IPO proceeds for funding capital expenditure requirements, which includes building a surface mount technology (SMT) line.
The IPO consists of a fresh fund raise of Rs. 206 crore and an offer-for-sale of Rs. 425 crore. Netweb plans to use the IPO proceeds for funding capital expenditure requirements, which includes building a surface mount technology (SMT) line.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%