Netweb Technologies India’s initial public offering (IPO) has garnered a remarkable response from investors, with the issue being oversubscribed more than 90 times during the three-day bidding process from July 17 to July 19.
Key highlights of the IPO subscription:
- Overall Subscription: The IPO was oversubscribed 90.55 times, indicating a high level of demand and interest from investors.
- Qualified Institutional Bidders (QIBs): The quota reserved for QIBs was oversubscribed an astounding 220.69 times. This category of investors showed aggressive bidding and expressed significant confidence in the company’s business model.
- Non-Institutional Bidders (NIIs): The portion reserved for non-institutional bidders was oversubscribed 83.21 times, showcasing substantial interest from high net worth individuals and other non-institutional investors.
- Retail Investors: Retail investors also participated actively in the IPO, with the portion allocated to them being oversubscribed 19.48 times.
- Employees: The portion reserved for employees of Netweb Technologies India received strong demand, being oversubscribed 55.92 times.
The primary stake sale of Netweb Technologies at the price range of Rs 475-500 per share attracted considerable attention due to the company’s niche business model as a high-end computing solution (HCS) provider. The IPO’s overall strong response is a positive indicator of investor confidence in the company’s prospects.
