Netweb Tech IPO allotment today: Here are two ways to check your application status

Netweb Technologies India is set to finalize the basis of allotment for its shares on Monday after its successful initial public offering (IPO). The IPO, valued at Rs 631 crore, garnered a robust response from investors during the three-day bidding process. The high-end computing solution (HCS) provider witnessed overwhelming demand, with the issue being subscribed more than 90 times, largely due to aggressive bidding from qualified institutional bidders (QIBs).

Netweb Technologies\’ IPO, which took place between July 17 and July 19, attracted substantial interest due to its niche business model. The primary stake sale of the company, offered in the price range of Rs 475 to Rs 500 per share, saw tremendous demand across investor categories. The quota for QIBs was oversubscribed a staggering 220.69 times, marking the highest subscription rate by this investor category in over a decade. Non-institutional bidders (NIIs) subscribed 83.21 times, retail investors 19.48 times, and employees 55.92 times.

Established in 1999, Netweb Technologies specializes in providing high-end computing solutions, including high-performance computing (supercomputing/HPC) systems, private cloud and hyper-converged infrastructure (HCI), AI systems, enterprise workstations, high-performance storage solutions, data center servers, software, and services. The company\’s strong business fundamentals, robust balance sheet, niche business segment, and reasonable valuations compared to peers have garnered positive feedback from brokerage firms.

Investors who participated in the IPO can check their allotment status on the Bombay Stock Exchange (BSE) website or the online portal of Link Intime, the registrar to the issue. For those who were allotted shares, the credits to their Demat accounts are likely to occur by Wednesday, July 26, with the IPO listing expected on Thursday, July 27. Refunds for unsuccessful bidders may be initiated on Tuesday, July 25. The grey market indicates a premium for Netweb Technologies shares, suggesting continued investor interest in the company.

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