Netweb Technologies India Ltd’s IPO to open on July 17, 2023, sets price band at Rs 475 to Rs 500 per Equity Share

Ahmedabad: Delhi-NCR-based Netweb Technologies India Ltd (Netweb Technologies) one of country’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities (Source: F&S Report) has fixed the price band at Rs 475 to Rs 500 per Equity Share for its initial public offering of equity shares (“IPO” or “Offer”). The IPO will open on Monday, July 17, 2023, for subscription and closes on Wednesday, July 19, 2023. Investors can bid for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

Netweb Technologies informs that it is compliant with the ‘Make in India’ Policy of the Government and is one of the few OEMs in the country eligible to seek production linked incentives schemes of the Government of India for IT Hardware for manufacture of servers, and Telecom and Networking Products Manufacturing in India for the manufacture of networking and telecom products (Source: F&S Report).

Netweb Technologies further informs it has both design and manufacturing capabilities in house and have undertaken installation of over 300 supercomputing systems and over 4000 accelerator / GPU based AI systems and enterprise workstations as of May 2023. Intel Americas, Inc., Advanced Micro Devices, Inc., Samsung India Electronics Private Limited, Nvidia Corporation are some of the companies it collaborates with to design and innovate product offerings.

The company statement informs that it is a high-end computing solutions (HCS) provider based in India catering to many Indian and multinational Customers based in India and is planning to grow its geographical footprint in Europe, Middle East and Africa. Between March 31, 2022 and May 31, 2023 it has almost doubled its order book value from Rs. 48.56 crore to Rs. 90.21 crore.

In case of any revision to the Price Band, the Bid/Offer Period will be extended by at least three additional Working Days after such revision in the Price Band, subject to the Bid/Offer Period not exceeding 10 Working Days. In cases of force majeure, banking strike or similar circumstances, the Company may, in consultation with the Book Running Lead Managers, for reasons to be recorded in writing, extend the Bid / Offer Period for a minimum of three Working Days, subject to the Bid/ Offer Period not exceeding 10 Working Days. Any revision in the Price Band and the revised Bid/Offer Period, if applicable, shall be widely disseminated by notification to the Stock Exchanges, by issuing a public notice, and also by indicating the change on the website of the Book Running Lead Manager and at the terminals of the Syndicate Member(s) and by intimation to the Designated Intermediaries and the Sponsor Bank, as applicable.

Equirus Capital Private Limited and IIFL Securities Limited are the book running lead managers, while Link Intime India Private Limited is the registrar to the offer.