Netweb Technologies’ IPO. According to the details you shared, the IPO, valued at Rs 631 crore, opened for subscription on July 17 and was fully subscribed within the first few hours. As of Day 3, the IPO has been subscribed 26.2 times, indicating strong investor interest.
Qualified institutional buyers (QIBs) have subscribed for 27.30 times their reserved portion, demonstrating significant demand from this category. Retail investors have bid for 14.25 times the shares reserved for them, resulting in an overbooked portion for retail investors. The non-institutional investor (NII) portion has been oversubscribed 52.59 times. Additionally, employees have subscribed for 35.11 times the portion reserved for them.
The IPO comprises fresh shares worth Rs 206 crore and an offer-for-sale (OFS) of shares worth Rs 425 crore from promoters and shareholders. The price band for the IPO was set at Rs 475-500 per equity share.
Furthermore, it is mentioned that Netweb Technologies’ shares in the grey market have seen a premium increase of 74% on Wednesday. The grey market premium indicates the difference between the expected listing price and the IPO price. A premium of Rs 370 over the upper end of the IPO price suggests a potential listing price of Rs 870 per share.
