Netweb Technologies to launch initial public offering on 17 July; 10 key pointers here
₹206 crore and an offer for sale (OFS) of up to 85 lakh equity shares. It needs to be noted that as per the red herring prospectus, the company said, in consultation with the BRLMs, undertook a Pre-IPO Placement of 1,020,000 equity shares at an issue price of ₹500 per equity share (including a premium of ₹ 498 per equity share) aggregating ₹ 51 crore (Pre-IPO Placement). Hence, the size of the fresh issue is reduced by ₹51 crore from the earlier ₹257 crore.
Reservations: Under the IPO, the company reserved up to 20,000 equity shares for subscription by eligible employees. Price band: The lower and upper price bands of the IPO will be announced in due course. Also, the lot size will be announced accordingly.
However, the proposed equity shares offered in the IPO will have a face value of ₹2 each. Selling shareholders: Among promoters to participate in the offer for sale, Sanjay Lodha will sell up to 2,860,000 equity shares; Navin Lodha, Vivek Lodha, and Niraj Lodha will offload 1,430,000 equity shares each. Also, Ashoka Bajaj Automobiles LLP will sell 1,350,000 equity shares.
IPO dates: The public offer will open on July 17 and will close on July 19. Ahead of the IPO, anchor investors will be allowed to bid on July 14. Investors detail: 50% of the total IPO size is reserved for qualified institutional buyers (QIBs), while 15% of the portion is kept for non-institutional investors (NII) and the remaining 35% is to be allotted for retail individual investors (RIIs).
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