Netweb Tech IPO Share Allotment: Check Your Status Online
Netweb Technologies, a leading provider of high-end computing solutions, is all set to conclude the allotment of shares for its IPO by July 24. With robust demand observed during the public issue, investors are eagerly awaiting this crucial decision.
To ease the process for shareholders, Netweb Technologies has introduced a hassle-free method to check share allotment status without the need to visit a broker’s office. Simply follow a few straightforward steps on either the BSE website or the IPO registrar’s portal using your mobile device.
On the BSE website, follow these steps:
- 1) Select ‘Equity’ as the issue type and ‘Netweb Technologies India Limited’ as the issue name.
- Provide either your ‘Application Number’ or ‘PAN Number’.
- Tick the ‘I am not a robot’ box and click on the ‘Submit’ button.
Alternatively, on the IPO registrar’s portal, follow these steps:
- Select the issue name ‘Netweb Technologies India Limited – IPO’.
- Enter your ‘PAN Number’, ‘Application Number’, or ‘DP Client ID’ as required.
- Click on the ‘Search’ button.
Eligible investors can expect their shares to be credited to their demat accounts by July 26. Due to the overwhelming demand for the public issue, shares will be distributed proportionately, meaning not all investors may receive shares. However, eligible investors will receive a minimum of one lot, which includes 30 shares.
For unsuccessful investors, refunds will be credited to their bank accounts by July 25.
The much-anticipated listing of Netweb Technologies on the BSE and NSE is scheduled for July 27, according to the IPO timetable.
The maiden public issue, valued at Rs 631 crore, has garnered an exceptional response from investors, with an oversubscription of 90.36 times during the period of July 17-19. Notably, qualified institutional buyers displayed a remarkable interest, bidding 228.91 times the allotted quota, marking the highest ever in the QIB category.
High net-worth individuals also showed strong participation, subscribing 81.81 times the portion reserved for them, while retail investors and employees subscribed 19.15 times and 53.13 times, respectively.
Analysts, speaking on condition of anonymity, revealed that the grey market premium for Netweb shares has slightly increased to 75 percent, up from 70 percent a few days ago, above the expected final issue price of Rs 500 per share.
The grey market serves as an unofficial platform for IPO share trading until the official listing on the stock exchanges. Investors often consider the grey market premium as an indicator of the potential listing price.
This premium aligns with market expectations, given Netweb’s distinctive business model, a growing order book, consistent financial performance, and an improving debt-to-equity ratio, as noted by analysts.
The IPO comprised a fresh issuance of shares worth Rs 206 crore and an offer for sale of Rs 425 crore by the promoters. The offer price band was set at Rs 475-500 per share.
Established in 1999, Netweb Technologies offers a range of high-end computing solutions under the ‘Tyrone’ brand. These solutions include computing systems (supercomputing/HPC), private cloud and hyper-converged infrastructure, AI systems, enterprise workstations, high-performance storage solutions, data center servers, and other software and service offerings.
The company caters to diverse industries such as information technology, IT-enabled services, entertainment and media, BFSI, national data centers, government entities (including the defense sector), and education and research development institutions.
Recently, Netweb expanded into new product lines, namely network switches and 5G ORAN appliances, essential for the data center industry and telecommunication industry to enable 5G services. Experts anticipate that this expansion will significantly boost the company’s earnings.
In FY23, Netweb witnessed an impressive profit surge, recording Rs 46.9 crore compared to Rs 22.5 crore in the previous year. Additionally, the company achieved a remarkable 80 percent year-on-year revenue increase at Rs 445 crore for FY23, while its operating profit margin also improved to 15.7 percent from 14 percent during the same period.
About Netweb Tech:
Founded in 1999, Netweb Technologies India Limited is a leading provider of cutting-edge computing solutions called High-end Computing Solutions (HCS). Their expertise lies in designing, manufacturing, and deploying HCS solutions, which encompass exclusive middleware solutions, end-user utilities, and precompiled application stacks. With a focus on developing their compute and storage technologies, the company has established a strong presence in the market.
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