The Initial Public Offering (IPO) of Netweb Technologies was subscribed 90.36 times on the final day of the offer on Wednesday, helped by overwhelming participation from all categories of investors, particularly institutional buyers.The Rs 631 crore-initial share sale received bids for 80,04,52,380 shares against 88,58,630 shares on offer, according to an update on the National Stock Exchange (NSE).The quota for Qualified Institutional Buyers (QIBs) was subscribed 228.91 times.
The category for non-institutional investors was subscribed 81.81 times and Retail Individual Investors (RIIs) part got 19.15 times subscription.The IPO, which had a price range of Rs 475-500 a share, had a fresh issue of up to Rs 206 crore and offer for sale of up to 8,500,000 equity shares. It was fully subscribed on the first day of the offer on Monday.