Utkarsh SFB IPO 15.3x on day 2; Netweb IPO price band Rs 475-500 per share

Utkarsh Small Finance Bank’s IPO was subscribed more than 15 times on Thursday. The retail portion of the issue was subscribed 36 times, high networth individual portion 27 times and institutional investor portion nearly 3 times. Through the IPO, Utkarsh SFB company is issuing fresh shares worth Rs 500 crore to be used for augmenting the bank’s tier-1 capital base. The price band for the issue is Rs 23-25 per share. At the top-end, Utkarsh SFB will have a market cap of Rs 2,740 crore on a post-dilution basis. The issue closes on Friday.

Netweb IPO price band Rs 475-500 per share

Netweb Technologies India, a high-end computing solutions provider, has set Rs 475-500 as the price band for its maiden share sale. The company’s IPO opens on July 17 and closes on July 19. The IPO consists of a fresh fund raise of Rs 206 crore and an offer-for-sale of Rs 425 crore. At the top-end of the price band, the IPO size works out to Rs 631 crore. Netweb plans to use the IPO proceeds for funding capital expenditure requirements, which includes building a surface mount technology (SMT) line.