Netweb Technologies mobilizes Rs 189 crore ahead IPO from anchor investors

16 Jul 2023 , 08:58 AM

The computing-solutions provider, Netweb Technologies limited is coming up with its maiden public offer on July 17 and the company has raised Rs 189.01 crore from anchor investors ahead of its IPO on July 14.

As per exchange filing, the company has finalized the allocation of 37.80 lakh equity shares to 25 anchor investors at the upper price band, i.e., Rs 500.

The company has received investments through an anchor book from prominent investors including Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trustee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and Whiteoak Capital.

The company has fixed the price band at Rs 475-500 per share and the issue will be closing on July 19. 

As per RHP, the company is planning to mobilize Rs 631 crore from the primary market which includes a fresh issue of equity shares of worth Rs 206 crore and an offer for sale of Rs 425 crore by promoters and existing shareholders.