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Netweb Technologies IPO: Check Allotment Status and Response

Netweb Technologies IPO Allotment: Check Application Status in Two Simple Ways

Netweb Technologies India is set to finalize the basis of share allotment on Monday for its Rs 631-crore Initial Public Offering (IPO). The high-end computing solution (HCS) provider garnered an overwhelming response from investors during the three-day bidding window from July 17 to July 19.

The IPO, priced in the range of Rs 475 to Rs 500 per share, received remarkable interest due to its niche business model. Overall, the issue was subscribed more than 90 times, with qualified institutional bidders (QIBs) leading the way with an astounding subscription of 220.69 times. Non-institutional bidders (NIIs) showed strong interest with a subscription of 83.21 times, and retail investors participated actively with a subscription of 19.48 times. The employee quota also witnessed robust demand, garnering 55.92 times bids.

Netweb Technologies, founded in 1999, specializes in providing high-performance computing solutions, private cloud and hyper-converged infrastructure, AI systems, enterprise workstations, high-performance storage solutions, and data center servers, software, and services.

Ahead of its listing, Netweb Technologies’ shares have been commanding a premium of Rs 365-370 per share in the grey market, which remained around Rs 350-360 on Friday. The consistent high premium in the grey market indicates strong investor interest.

The company’s core business revolves around designing, manufacturing, and deploying high-end computing solutions, including proprietary middleware solutions, end-user utilities, and precompiled application stacks. Netweb Technologies also develops homegrown compute and storage technologies and provides supercomputing infrastructure to meet the demands of various businesses, academia, and research organizations.

Brokerage firms tracking the IPO have expressed optimism, highlighting the company’s robust business fundamentals, strong balance sheet, unique business segment, and reasonable valuations compared to its peers. Many have recommended investors to bid for the issue.

As the IPO allocation process concludes, applicants can check their application status through two simple methods. Stay tuned for further updates as Netweb Technologies begins its new chapter in the stock market.

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