Public Market

IPO

Netweb Technologies attracts Rs.189-Cr from anchor investors

Economic Times  

Homegrown server maker Netweb Technologies India has raised INR 189 crore from anchor investors ahead of its Initial Public Offering (IPO). The company has allocated 37.8 lakh equity shares to 25 funds at INR 500 per share, which is also the upper end of the IPO. Nomura Funds, Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), HDFC MF, WhiteOak MF and Nippon MF, among others participated in the anchor round. Out of the total allocation of 37.8 lakh equity shares to the anchor investors, 22.27 lakh equity shares were allocated to 9 domestic mutual funds through a total of 19 schemes. The IPO comprises a fresh issue of equity shares worth INR 206 crore and an Offer For Sale (OFS) of 85 lakh equity shares by promoters. Those selling shares in the OFS are Sanjay Lodha, Vivek Lodha, Navin Lodha, Niraj Lodha, and Ashoka Bajaj Automobiles LLP.