NEW DELHI: The IPO of Netweb Technologies India, a home server producer, will open for public subscription from July 17 to July 19, with anchor investor bidding starting up on July 14.
The corporate has set a value vary of Rs 475-500 in step with proportion for its preliminary public providing (IPO) value Rs 631 crore.
Of the entire factor measurement, 50% is reserved for certified institutional traders, 35% for retail traders, and the rest 15% for non-institutional traders. Investors can bid for no less than 30 stocks and in multiples thereof. In a pre-IPO placement spherical performed ultimate month, the corporate raised Rs 51 crore from institutional traders.
The IPO features a contemporary issuance of fairness stocks valued at Rs 206 crore, in addition to an offer-for-sale (OFS) of 85 lakh fairness stocks via the corporate’s promoters. The people taking part within the OFS are Sanjay Lodha, Vivek Lodha, Naveen Lodha, Niraj Lodhaand Ashoka Bajaj Automobiles LLP.
The corporate plans to make use of the proceeds from the IPO as follows: Rs 32.77 crore for capital expenditure, Rs 128.02 crore for long-term running capital enhance, Rs 22.5 crore for debt fee, and the remaining for basic company functions. The IPO is predicted to generate Rs 610 crore to Rs 631 crore, relying at the decrease and higher ends of the fee band.
Netweb Technologies, headquartered in Delhi NCR, is a number one supplier of top-end computing answers (HCS) within the nation. As one of the most few authentic apparatus producers (OEMs) in India, the corporate has additionally won production-linked incentives from the Government of India.
In the fiscal yr 2023, Netweb Technologies witnessed an important building up in earnings from operations, which rose via 80% to Rs 445 crore in comparison to Rs 247 crore the former yr. The web benefit greater than doubled from Rs 22.45 crore to Rs 47 crore throughout the similar length.
Equirus Capital and IIFL Securities are serving because the book-running lead managers for the IPO. Following the IPO, the corporate’s fairness stocks can be indexed at the BSE and NSE inventory exchanges.
Some of the brokerage tips on Netweb Technologies IPO,
ICICI Direct: ICICI Direct has given a “subscribe” score to the IPO with a value goal of ₹1,250. The brokerage company believes that Netweb Technologies is a well-managed corporate with a powerful monitor document of enlargement.
Angel One: Angel One has additionally given a “subscribe” score to the IPO with a value goal of ₹1,200. The brokerage company believes that Netweb Technologies is well-positioned to take pleasure in the expansion of the IT business in India.
Sharekhan: Sharekhan has given a “subscribe with caution” score to the IPO with a value goal of ₹1,100. The brokerage company believes that the valuations of the IPO are quite stretched, however the corporate has a excellent enlargement outlook.
Motilal Oswal: Motilal Oswal has given a “neutral” score to the IPO with a value goal of ₹1,000. The brokerage company believes that the valuations of the IPO are honest, however the corporate faces some dangers, corresponding to festival from new entrants.
(With inputs from companies)
The corporate has set a value vary of Rs 475-500 in step with proportion for its preliminary public providing (IPO) value Rs 631 crore.
Of the entire factor measurement, 50% is reserved for certified institutional traders, 35% for retail traders, and the rest 15% for non-institutional traders. Investors can bid for no less than 30 stocks and in multiples thereof. In a pre-IPO placement spherical performed ultimate month, the corporate raised Rs 51 crore from institutional traders.
The IPO features a contemporary issuance of fairness stocks valued at Rs 206 crore, in addition to an offer-for-sale (OFS) of 85 lakh fairness stocks via the corporate’s promoters. The people taking part within the OFS are Sanjay Lodha, Vivek Lodha, Naveen Lodha, Niraj Lodhaand Ashoka Bajaj Automobiles LLP.
The corporate plans to make use of the proceeds from the IPO as follows: Rs 32.77 crore for capital expenditure, Rs 128.02 crore for long-term running capital enhance, Rs 22.5 crore for debt fee, and the remaining for basic company functions. The IPO is predicted to generate Rs 610 crore to Rs 631 crore, relying at the decrease and higher ends of the fee band.
Netweb Technologies, headquartered in Delhi NCR, is a number one supplier of top-end computing answers (HCS) within the nation. As one of the most few authentic apparatus producers (OEMs) in India, the corporate has additionally won production-linked incentives from the Government of India.
In the fiscal yr 2023, Netweb Technologies witnessed an important building up in earnings from operations, which rose via 80% to Rs 445 crore in comparison to Rs 247 crore the former yr. The web benefit greater than doubled from Rs 22.45 crore to Rs 47 crore throughout the similar length.
Equirus Capital and IIFL Securities are serving because the book-running lead managers for the IPO. Following the IPO, the corporate’s fairness stocks can be indexed at the BSE and NSE inventory exchanges.
Some of the brokerage tips on Netweb Technologies IPO,
ICICI Direct: ICICI Direct has given a “subscribe” score to the IPO with a value goal of ₹1,250. The brokerage company believes that Netweb Technologies is a well-managed corporate with a powerful monitor document of enlargement.
Angel One: Angel One has additionally given a “subscribe” score to the IPO with a value goal of ₹1,200. The brokerage company believes that Netweb Technologies is well-positioned to take pleasure in the expansion of the IT business in India.
Sharekhan: Sharekhan has given a “subscribe with caution” score to the IPO with a value goal of ₹1,100. The brokerage company believes that the valuations of the IPO are quite stretched, however the corporate has a excellent enlargement outlook.
Motilal Oswal: Motilal Oswal has given a “neutral” score to the IPO with a value goal of ₹1,000. The brokerage company believes that the valuations of the IPO are honest, however the corporate faces some dangers, corresponding to festival from new entrants.
(With inputs from companies)