Netweb Tech IPO allotment out: Check your application status & latest grey market premium

Netweb Technologies India has finalised the basis of allotment of its shares and investors' who bid for the issue got the message of debit of funds or revocation of mandate from their bank's late night on Monday. The company will make its debut at Dalal Street on Thursday, July 27.

The Rs 631-crore initial public offering of Netweb Technologies, a high-end computing solution (HCS) provider, had received a robust strong response from the investors. The primary stake sale of Netweb Technologies, which was sold in the range of Rs 475-500 apiece, between July 17-19.

The issue was overall subscribed 90.55 times, thanks to its niche business model. The bidding was led by qualified institutional bidders (QIBs), whose quota was booked 220.69 times, highest in by the category in the last one decade. The portions for non-institutional bidders (NIIs), retail investors and employees were booked 83.21 times, 19.48 times and 55.92 times, respectively.

Incorporated in 1999, Netweb Technologies provides high-end computing solutions (HCS), offering high-performance computing (supercomputing/HPC) systems; private cloud and hyper-converged infrastructure (HCI); AI systems and enterprise workstations; high-performance storage solutions; data center servers, software and services.

Last heard, the listing bound player was commanding a premium of close to Rs 370 per share in the grey market. The premium has remained stable around current levels for the last 2-3 days. According to the sources tracking the grey market, Netweb Technologies may deliver a strong listing pop.

Netweb Technologies designs, manufactures and deploys HCS comprising proprietary middleware solutions, end-user utilities, and precompiled application stack. It develops homegrown compute and storage technologies, and deploys supercomputing infrastructure to meet demands of businesses, academia, and research organizations.

Majority of the brokerage firms tracking the issue continue to remain positive on the issue citing its strong business fundamentals, robust balance sheet, niche business segment and reasonable valuations compared to the peers. Most of them have suggested a bid for the issue.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Netweb Technologies Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Tuesday, July 25. Others, who would be allotted shares may see the credit of shares, in the Demat account by Wednesday, July 26. The listing of the IPO is likely on Thursday, July 27.

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