All You Need To Know About Netweb Technologies' ₹631 Crore IPO

The initial public offering (IPO) of Netweb Technologies India will open for subscription on Monday, July 17. The company is looking to sell its shares in the price band of Rs 475-500 apiece. Interested investors are required to bid for at least one lot of 30 equity shares and its multiples thereafter. The three-day stake sale will conclude on Wednesday. Incorporated in 1999, Netweb Technologies India provides high-end computing solutions (HCS). It offers high-performance computing (supercomputing/HPC) systems; private cloud and hyper-converged infrastructure (HCI); AI systems and enterprise workstations; high-performance storage (HPS/enterprise storage system) solutions; data center servers, softwares and services. The company is looking to raise Rs 631 crore, which includes a fresh equity share sale amounting to Rs 206 crore and an offer-for-sale (OFS) of up to 85 lakh equity shares by promoters, aggregating to Rs 425 crore. Promoters Sanjay Lodha, Navin Lodha, Vivek Lodha, Niraj Lodha and Ashoka Bajaj Automobiles LLP would be participating in the OFS.