Netweb Technologies India, a computing solutions provider, has opened its initial public offering (IPO) for public subscription. The IPO consists of a fresh issue of shares worth INR 206 crore ($27.7 million) and an offer-for-sale of up to 8.5 million shares.
Netweb Technologies IPO: The company plans to use proceeds to the tune of Rs 32.77 crore to fund capital expenditure, Rs 128.02 crore to support long-term working capital, Rs 22.5 crore for debt payment, besides for general corporate purposes. Last month, Netweb Technologies raised Rs 51 crore from institutional investors in a pre-IPO placement round., Markets News, Times Now