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Initial Public Offering (IPO) of Delhi-NCR-based Netweb Technologies Ltd, country’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities was subscribed 90.36 times on the final day of bidding.

The issue received bids of 80,04,47,730 shares against the offered 88,58,630 equity shares, at a price band of ?475-500, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion was the most subscribed with a subscription of 228.91 times, followed by Non-Institutional Investors with 81.81 times. Employee Portion was subscribed 53.12 times, whereas, Retail Portion was subscribed 19.15 times.

Equirus Capital Private Limited and IIFL Securities Limited are the book running lead managers and Link Intime India Private Limited is the registrar for the issue.

Company Information

Netweb Technologies is one of the few OEMs in the country is a recipient of production linked incentives schemes of the Government of India under the ‘Make in India’ policy for IT Hardware (IT Hardware PLI Scheme) and Telecom and Networking Products Manufacturing in India (Telecom and Networking PLI Scheme).

Netweb 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, Samsung, AMD, NVIDIA are some of the companies it collaborates with to innovate on product offerings. It is a high-end computing solutions (HCS) provider based in India catering to many Indian and multinational Customers based in India and grow its geographical footprint in Europe, Middle East and Africa (EMEA).

Between March 31, 2022 and May 31, 2023 it has almost doubled its order book value from Rs 48.56 crore to Rs 90.205 crore.

For the fiscal year 2023, the company’s revenue from operations increased 80.13% to Rs 444.97 crore against Rs 247.03 crore a year ago primarily due to an increase in the sale of Products and Services, Private cloud and HCI, Supercomputing systems, High Performance Storage Solutions and AI systems and Enterprise Workstations. Net profit for the period increased 109.04% to Rs 46.94 crore as against Rs 22.45 crore last year.

The table below shows subscription data for all the categories of investors:

Top 10 firms with highest QIB subscription

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