Equirus Successfully Manages Netweb Technologies India IPO, Listed with an 89% Premium
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Equirus, a leading investment bank in India, is proud to announce the successful management of the initial public offering (IPO) of Netweb Technologies India, which got listed today on the Stock Exchange with a premium of around 89%. Equirus acted as the book-running lead manager for the IPO, assisting Netweb Technologies India in raising capital from the market. The stock made its debut on the NSE at Rs 947, marking a significant premium of 89.4% over the issue price of Rs 500. Likewise, its debut on BSE was impressive, opening at Rs 942.5 per share, up by 88.5%.
The IPO received an overwhelming response from investors, with a subscription rate of a remarkable 90.55 times. The public issue witnessed exceptional demand across all categories, with an astounding 220.10 times in the Qualified Institutional Buyers (QIB) category (excluding Anchor), an impressive 84.21 times in the Non-Institutional Investors (NII) category as of July 19, 2023, and a subscription rate of 19.59 times in the retail category.
Netweb Technologies India is India’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities. The successful IPO listing marks a significant milestone for the company, solidifying its position in the market and providing a strong foundation for future endeavors.
Ajit Deshmukh, Managing Director at Equirus, expressed his enthusiasm regarding the IPO's overwhelming response and successful listing. He stated, "We are delighted with the exceptional subscription rate and the premium listing of the Netweb Technologies India IPO. It reflects the investor's confidence in the company's growth prospects and innovative solutions. Equirus is committed to fostering such opportunities for promising companies, and we look forward to continuing our support for businesses seeking capital for growth and expansion."
Equirus takes pride in its contribution to Netweb Technologies India's successful IPO, and the firm remains dedicated to delivering top-notch financial advisory services to its clients.
