Netweb Technologies plans Rs 631 crore IPO; price band at Rs 475-500

High-end computing solutions (HCS) provider Netweb Technologies has announced a Rs 631-crore initial public offering (IPO) at a price band of Rs. 475-500 per share. The offer, comprising a fresh issue of Rs 206 crore and an offer for sale of up to 85 lakh equity shares, will be open for subscription by retail investors from 17-19 July.

About 50% of the offer is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors and 35% for retail investors. The company plans to use the proceeds for funding working capital, capital expenditure, repayment of debt and general corporate expenses.