Netweb Technologies shares surged 10% after the company partnered with NVIDIA to explore the potential of AI and high-performance computing. Netweb will manufacture server designs for the NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs.
The public issue with a face value of Rs 2 per equity share comprises Rs 206 crore of fresh issue and an offer for the sale of 8.5 million equity shares. The offer also includes a reservation for a subscription by eligible employees.The company is offering its shares in the range of Rs 475–Rs 500 per equity share. Investors can bid for 30 shares in one lot and in multiples thereafter.The IPO will fetch Rs 631 crore at the upper end of the price band.
Netweb Technologies has set the price band for its IPO at Rs 475-500, with the offering opening on 17 July and closing on 19 July. Investors will be able to bid for a minimum of 30 equity shares, with the company anticipating to use the funds for long-term working capital, funding its capital expenditure, as well as debt repayment.