Business | Stock Markets | Investing | Economy | Tech | Crypto | India | World | News at Moneynomical

Netweb Technologies IPO witnesses strong demand, subscribed 3.12 times on second day


Netweb Technologies India Limited, a leading high-end computing solutions (HCS) provider, has experienced remarkable demand during its IPO bidding process. Subscribed 3.12 times on the second day, the IPO opened for public subscription on July 17 and is set to conclude on July 19.

Notably, employees showed significant interest, subscribing 8.36 times, while non-institutional investors (NII) and retail investors subscribed 5.09 times and 3.92 times, respectively.

However, the qualified institutional buyers (QIB) portion received minimal demand at 0.03 times. The IPO received an impressive 2,76,28,530 bids compared to the issue size of 88,58,630 shares.

The IPO’s pricing ranges from Rs 475 to Rs 500 per share, with a lot size of 30 equity shares and multiples thereafter.

The grey market premium (GMP) surged to 74 percent higher than the upper offer price, although it’s essential to acknowledge the dynamic nature of GMP values. As Netweb Tech aims to raise Rs 631 crore, investors eagerly anticipate its listing on stock exchanges.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More