Incorporated in 1999, Netweb Technologies provides high-end computing solutions, offering high-performance computing systems; private cloud and hyper-converged infrastructure. 
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Incorporated in 1999, Netweb Technologies provides high-end computing solutions, offering high-performance computing systems; private cloud and hyper-converged infrastructure. Netweb Technologies India is likely to finalise the basis of allotment of its shares on Monday. The Rs 631-crore initial public offering of the high-end computing solution (HCS) provider had received a robust strong response from the investors during the three-day bidding. The issue was overall subscribed more than 90 times, thanks to aggressive bidding from the QIB investors. The primary stake sale of Netweb Technologies, which was sold in the range of Rs 475-500 apiece, had received a super strong response from the investors during the bidding process between July 17-19, thanks to its niche business model. The issue was overall subscribed 90.55 times. The quota reserved for qualified institutional bidders (QIBs) was subscribed a whopping 220.69 times, highest by this category of investors in more than a decade. The portion for non-institutional bidders (NIIs) was booked 83.21 times and the allocation of retail investors was subscribed 19.48 times, while the portion for employees fetched 55.92 times bids. Incorporated in 1999, Netweb Technologies provides high-end computing solutions (HCS), offering high-performance computing (supercomputing/HPC) systems; private cloud and hyper-converged infrastructure (HCI); AI systems and enterprise workstations; high-performance storage solutions; data center servers, software and services. Last heard, the listing bound player was commanding a premium of Rs 365-370 per share in the grey market, which was around Ra 350-360 on Friday. According to the sources tracking the grey market trends, the premium for Netweb Technologies has remained lofty. Netweb Technologies designs, manufactures and deploys HCS comprising proprietary middleware solutions, end-user utilities, and precompiled application stack. It develops homegrown compute and storage technologies, and deploys supercomputing infrastructure to meet demands of businesses, academia, and research organizations.
Watch: Dividend stocks: Adani Ports, Cummins India, Hero MotoCorp, Tata Motors, Ultratech Cement, IOCL among stocks that will trade ex-dividend this week; check details Majority of the brokerage firms tracking the issue continue to remain positive on the issue citing its strong business fundamentals, robust balance sheet, niche business segment and reasonable valuations compared to the peers. Most of them have suggested a bid for the issue. Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit. Investors can also check the allotment status on the online portal of Link Intime(https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue and then select the company name from all options, if the allotment is finalized. Fill either application number, demat Account number, or PAN ID and the captcha accurately, before hitting submit. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed. Bidders who could not get allotment in the IPO may see the initialization of refunds on Tuesday, July 25. Others, who would be allotted shares may see the credit of shares, in the Demat account by Wednesday, July 26. The listing of the IPO is likely on Thursday, July 27.
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