Netweb Technologies India Ltd. makes a strong debut on the bourses with scrip got listed at Rs 942.50 on the Bombay Stock Exchange, a 88.50 per cent premium to its issue price of Rs 500.00. On the National Stock Exchange, the stock was listed at Rs 0.00.
The company, which raised 1.26 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 126.20 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Jul 17 to Jul 19.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for i Civil construction of the building for the surface mount technology (SMT) line and interior development; andii Purchase of equipment/machineries for the new SMT production line (SMT Line); (collectively, Capital Expenditure) Funding the long term working capital requirement Repayment or prepayment, in full or in part, of certain of the outstanding borrowings General corporate purposes.
Equirus Capital Private Limited,IIFL Securities Limited as lead managers & Link Intime India Private Limited is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 66,707.20, up 351.49 points, or 0.52 per cent.