The Rs 631 crore-IPO of Netweb Technologies is planned to commence on Monday, July 17, and will remain open for subscription till July 19, while the public subscription of Asarfi Hospital from the SME segment will open on Monday, July 17, and will close on July 19.
Netweb Technologies, a provider of high-end computer solutions, has set a price range of Rs 475-500 per share for the IPO.
On the eve of its IPO, the company raised Rs 189.01 crore from anchor investors on July 14. According to a report to exchanges, the company has finalized the distribution of 37.80 lakh equity shares to 25 anchor investors at the maximum price band of Rs 500 per share.
Among the anchor book investors are Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trusteee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and Whiteoak Capital.
According to market experts, demand for Netweb Technologies shares in the unlisted market appears to be high, with shares available at a 60% premium over the top price band of Rs 500 per share.
Netweb Tech intends to raise Rs 631 crore through the public offering, which would include a fresh issuance of Rs 206 crore in shares and a Rs 425 crore offer for sale (OFS) by founders. When compared to the fresh issue, the OFS component is more than double.
The net funds will be utilized for civil construction and interior development of the building for the surface mount technology (SMT) line, as well as the procurement of equipment or machinery for the new SMT manufacturing line. Other goals of the offer include meeting working capital needs and settling debts.
The qualifying investors will receive their IPO shares by July 26, and the IPO will most likely be listed on the bourses on July 27.
Meanwhile, Jharkhand-based healthcare services provider Asarfi Hospital would offer its shares for Rs 51-52 each, with investors able to bid for 2,000 shares in a single lot.
The IPO is a completely new equity issue of up to 51.8 lakh equity shares worth up to Rs 26.9 crore.
The full offer proceeds, minus issue expenses, would be used for capital expenditures of a cancer hospital in Ranguni, Jharkhand, and leasehold land acquisition for the Health Management and Research Institute in Ranchi, in addition to general corporate purposes.
The final distribution will take place on July 24, and successful investors will receive their shares in demat accounts by July 26. On July 27, Asarfi Hospital will make its debut on the BSE SME Platform.
Hem Securities is the issue’s lead manager, and Cameo Corporate Services is the registrar.
AccelerateBS India, a digital technology services firm, is expected to make its debut on the BSE SME market on July 19, while Kaka Industries, a manufacturer of polymer-based profiles, will be listed on the BSE SME platform on July 20.
Drone Destination and Ahasolar Technologies will also be listed on the NSE SME Emerge and BSE SME platforms next week, on July 21.
All four listings will take place in the SME section, with no listings in the mainboard segment.