Netweb Technologies IPO: GMP jumps ahead of share allotment date
Netweb Technologies IPO: After closure of bidding for the book build issue, all eyes are set on Netweb Technologies IPO allotment date, which is most likely on 24th July 2023 i.e. on Monday next week. In three days of bidding from 17th to 19th July 2023, Netweb Technologies IPO subscription status suggests that the public issue got strong response from the investors.
The public offer got subscribed 90.36 times whereas its retail portion got subscribed 19.15 times. After this strong subscription status, grey market has also gone bullish on the public issue. According to market observers, shares of Netweb Technologies are available at a premium of ₹380 in grey market today.
Market observers said that Netweb Technologies IPO grey market premium (GMP) today is ₹380, which is ₹20 higher from its Thursday GMP of ₹360. They said that two reasons can be attributed to this rise in grey market sentiments. First and foremost positive stock market trend and second is strong response given by the investors.
The QIB portion of the public issue got subscribed 228.91 times. Market observers said that Indian stock market has been climbing to record highs on a regular basis and in this participatory rally primary market has got its momentum going. After strong listing of ideaFroge, Senco Gold and Utkarsh Small Finance Bank shares, IPO market has also gone highly bullish like secondary market.
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