Netweb Technologies IPO: Netweb Technologies shares listed at 88% premium over IPO price on NSE and BSE amid positive domestic market. The share debuted at Rs 942.5 on the BSE, as compared to the issue price of Rs 500 per share. A positive listing was expected as ahead of the market debut, Netweb Technologies shares were trading at a premium of Rs 394 in the grey market.
Netweb Technologies IPO subscription data
Netweb Technologies IPO opened for subscription on 17 July and the issue was fully subscribed 90.55 times on the last day of subscription, helped by overwhelming participation from institutional buyers. The Qualified Institutional Buyers (QIBs) category was subscribed 220.69 times, the portion for non-institutional investors received 83.21 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 73.07 times. Employees bid 55.92x for their reserved portion.
“At the upper price band of Rs 500, NTIL is available at a P/E of 59.7x (FY23), which appears reasonably priced compared to peers. With effective management, consistent growth, an expanding product portfolio, geographic footprints and Digital India initiative by the Government, NTIL is well-positioned to capitalize on the Indian IT industry’s growth. Therefore, we assign a “Subscribe” rating for the issue on a short to medium-term basis,” said Geojit Research earlier this month.
About Netweb Technologies
NTIL is one of India’s leading Indian origin owned and controlled original equipment manufacturers in the space of high-end computing solutions (HCS). The company provides supercomputing systems, private cloud & HCI (hyper-converged infrastructure), data center servers, AI systems & enterprise workstations and high-performance storage (HPS) solutions. These find application across sectors like IT, ITeS, entertainment & media, banking, financial services & insurance, national data centers and government entities like defense, education and research development institutions.