Netweb Technologies IPO: Subscription Now Open till July 19! Is it Worth Bidding?
High-end Computing Solutions (HCS) provider Netweb Technologies has launched its Initial Public Offering (IPO) for public membership on Monday.
Closing on July 19, the IPO includes a fresh equity issuance of NPR 206 crores and an offer for sale (OFS) of 85 lakh shares.
Analysts advise investors to consider growth opportunities, strong fundamentals, and a robust production portfolio before subscribing to the IPO.
The company proposes to offer its shares in the price band of NPR 475-500 and at a P/E ratio of 55-59x.
Netweb Technologies specializes in developing domestic computing and storage technologies to meet the growing demands of businesses, educators, and research institutions, ranking 11 times in the top 500 supercomputers worldwide.
Experts believe that Netweb Technologies presents a unique business model, and its HCS offerings cater solely to domestic companies, positioning it uniquely in this sector amid a shortage of indigenous and international players.
Netweb Technologies IPO Reports
During the fiscal year ending March 2023, the company reported a revenue of NPR 445 crores and a net profit of NPR 46.9 crores.
🔥 Netweb Technologies India IPO 🔥
— Sandeep Aggarwal (@IPO_Sandeepsmc) July 17, 2023
I am applying in this IPO.
Category wise preference:
1️⃣ B-HNI – App. Amt. ₹10,05,000/-
2️⃣ S-HNI – App. Amt. ₹2,10,000/-
3️⃣ Retail – ₹15,000/-
Details mentioned below⬇️ pic.twitter.com/xuTMmhvXWq
Investmentz praises the company’s efficient management, experienced board, significant product development, and anticipates future growth.
Analysts from Anand Rathi, Benchura, and Geojit also recommend investors to subscribe to this issue.
Approximately 50% of the total offering is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for Retail Investors. Each investor can bid for a minimum of 30 shares and then in multiples thereof.
The funds raised through the IPO will be utilized for working capital expenditure, long-term working capital, and partial or complete repayment of debt.
IIFL Securities and Equiris Capital are the book-running lead managers to the issue, and Link Intime India Private Limited is the registrar for the IPO.
