Key Points of Netweb Technologies IPO Listing:
- Netweb Technologies India Ltd has filed draft papers for an IPO to raise funds with the Securities Exchange Board of India (Sebi).
- The IPO will include a fresh issue of shares worth Rs 275 crore and an offer-for-sale of up to 8.50 million shares by existing shareholders and promoters.
- The OFS will include up to 2.86 million shares by Sanjay Lodha, up to 1.43 million shares each by Navin Lodha, Vivek Lodha, and Niraj Lodha, and up to 1.35 million shares by Ashoka Bajaj Automobiles Pvt Ltd.
- Netweb Technologies plans to allocate around Rs 32.77 crore for civil construction, interior development, and equipment purchase for its new surface mount technology (SMT) line facility.
- The company also plans to allocate Rs 128 crore for working capital requirements and Rs 22.50 crore for repayment of outstanding debt.
- In FY22, Netweb Technologies reported a substantial increase in revenue, from Rs 142.79 crore to Rs 247.03 crore, with a net profit jump from Rs 8.23 crore to Rs 22.45 crore, and an EBITDA margin increase to 14.37 percent from 11.13 percent.
Details of Netweb Technologies IPO Listing:
Netweb Technologies, a leading provider of high-end computing solutions (HCS) in India, has filed draft papers with the Securities Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The IPO will involve a fresh issue of shares worth Rs 275 crore and an offer-for-sale of up to 8.50 million shares by the company’s existing shareholders and promoters.
The offer-for-sale (OFS) will include up to 2.86 million shares by Sanjay Lodha, up to 1.43 million shares each by Navin Lodha, Vivek Lodha, and Niraj Lodha, and up to 1.35 million shares by Ashoka Bajaj Automobiles Pvt Ltd. Equirus Capital and IIFL Securities are the lead managers to the issue.
Netweb Technologies plans to allocate around Rs 32.77 crore from the funds raised from the issue for civil construction of the building for the surface mount technology (SMT) line, interior development, and equipping the new SMT line facility by purchasing necessary equipment and machinery. The company also plans to allocate Rs 128 crore for its working capital requirements and Rs 22.50 crore for the repayment of its outstanding debt.
In FY22, Netweb Technologies reported a substantial on-year increase in revenue, from Rs 142.79 crore to Rs 247.03 crore. Net profit for the period jumped from Rs 8.23 crore to Rs 22.45 crore, and the EBITDA margin increased to 14.37 percent from 11.13 percent.
As of September 2022, the company’s total borrowings amounted to Rs 27.59 crore. As of February 2023, the company’s total order book stood at Rs 98.12 crore, down from Rs 127.99 crore in FY22.
Netweb Technologies is a leading Indian-owned and controlled OEM in the HCS market, specializing in supplying supercomputing systems, private cloud and HCI, data center servers, AI systems and enterprise workstations, and HPS solutions. With complete integrated design and manufacturing capabilities, the company is poised to make a strong impact in the market.
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