Netweb Applied sciences India’s IPO was subscribed greater than 2 occasions on Monday, the primary day of the difficulty. The retail and excessive networth particular person portion of the difficulty has been subscribed 3.4 occasions and a couple of.9 occasions, respectively. On Friday, the Delhi-based high-end computing options (HCS) supplier had allotted shares value Rs 189 crore to anchor buyers.
Netweb has set Rs 475-500 as the worth band for its maiden share sale. On the higher finish of the worth band, the corporate is valued at Rs 2,803 crore, practically 60 occasions on FY23 earnings. The IPO consists of a contemporary fund elevate of Rs 206 crore and an offer-for-sale of Rs 425 crore. Netweb plans to make use of the IPO proceeds for funding capital expenditure necessities, which incorporates constructing a floor mount expertise (SMT) line.