Netweb Technologies IPO Day 2: Issue booked over 4 times so far; Check GMP, subscription status, other details
IPO subscription status: The initial public offering (IPO) of Netweb Technologies India has received robust demand so far on July 18, the second day of the bidding process. Netweb Technologies IPO has been subscribed 4.74 times so far on day 2 as the issue received bids for 4.19 crore shares as compared to the IPO size of 88.58 lakh equity shares. The IPO has been subscribed 5.84 times in the retail category and 8.38 times in the Non-institutional Investors (NII) category.
The portion for Qualified Institutional Investors (QIB) has been booked 0.04 times till 12:45 pm. The Employees’ quota has been subscribed 12.02 times so far. The company is offering a discount of ₹25 per share to its employees.
Netweb Technologies IPO opened for public subscription on July 17 and will conclude on July 19. Also Read: Netweb Technologies IPO: GMP, subscription status, other details. Apply or not? The IPO of the computing solutions provider consists of a fresh issue of shares worth ₹206 crore and an offer-for-sale of up to 85 lakh shares by its existing promoters and shareholders.
The company price band for the public issue has been fixed at ₹475-500 per share. At the upper band price, the company expects to raise ₹631 crore through the IPO. The lot size for the Netweb Technologies IPO is 30 shares and retail investors can apply up to 13 lots.
The company has already raised ₹189 crore from anchor investors on July 14, a day ahead of the IPO opening. Netweb Technologies IPO allotment is expected to be on July 24. Netweb Technologies shares will be listed on the stock exchanges BSE and NSE on July 27. Netweb Technologies IPO GMP today, or grey market premium today, is ₹370 per share, as per market observers.
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