If you like to invest in IPO then there is big news for you. A new IPO is coming to the market next week. The IPO of Netweb Technologies India Limited will open on 17th July. The size of the IPO is Rs 631 crore. You can bid on it from 17th July to 19th July. In such a situation, if you are also thinking of investing in it, then we are telling you about its price and other details.
What is the size of Netweb Technologies’ IPO?
Netweb Technologies provides computer-related data solutions. The company is going to bring an IPO of Rs 631 crore. The company has fixed the IPO price at Rs.475 to Rs.500. Through this IPO, the company raised Rs. 206 crore will issue press shares. And the remaining amount will be given by offer for sale. A total of 85 lakh shares will be announced through the offer for sale. It may be noted that this IPO will be opened for anchor investors on July 14 only.
When will the shares be allotted?
It may be noted that the company has fixed the lot size of 30 shares in the IPO. In such a situation you have to invest at least Rs 15,000 at Rs 475 to Rs 500 per share. The shares of this company will be allotted on 24th July and its listing can be done on 27th July. The shares will be listed on Bombay Stock Exchange and National Stock Exchange. The company has reserved 50 per cent of the total IPO for qualified institutional buyers (QIB), 35 per cent for retail investors and 15 per cent for non-institutional NIIs.
What will the company do with the funds raised through the IPO?
The company will use the proceeds raised through this IPO for capital expenditure. Some of the amount will be used by the company to repay its old loans. Several promoters of the company like Naveen Lodha, Vivek Lodha and Neeraj Lodha will sell their stake through this IPO.
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