New Delhi: After the robust listing of Idea Forge Technologies, Cyient DLM and Senco gold public issues, the primary market is all set to welcome a new IPO next week- Netweb Technologies, opening on Monday.
Netweb Technologies IPO
Netweb Technologies is a high-end computing solution-providing company in India and is among a few Original Equipment Manufacturers (OEMs) within the nation. The company is headquartered in New Delhi.
The company’s public issue will be opened between July 17 to July 19 for bidding. The computing company aims to raise Rs 631 crore through its IPO, following which the price band has been set to Rs 475- Rs 500 a piece.
The shares of Netweb technologies are expected to be allotted on July 24. The expected listing date of the public issue is July 27. The company’s IPO will be listed on both – BSE and NSE.
Out of the total issue size, 50 per cent has been reserved for Qualified Institutional Investors (QIIs), 35 per cent for Retail Investors (RIs) and the remaining 15 per cent has been locked for Non-Institutional Investors (NIIs). The IPO’s Lot size contains 30 shares, which means buyers can bid for a minimum of 30 shares and in multiple thereof.
Grey Market scenario
The shares of Netweb Technologies have been trading at a premium of Rs 338 in the grey market as of July 15. The company’s shares are trading at a premium, indicating the bullish nature of the public issue in the grey market. The Netweb Technologies IPO trading at a premium in the grey market means the listing price would jump to Rs 838 (500+338), more than 65 per cent in comparison to the company’s price band of Rs 475 to Rs 500 per share.
