For its initial public offering (IPO), Delhi-based server manufacturer Netweb Technologies India Ltd. has submitted a draft red herring prospectus (DRHP) to market regulator Securities and Exchange Board of India (SEBI) to price the issuance of new shares. 257 crore and an offer for sale (OFS) by the promoters of up to 8.5 million shares, as stated by the DRHP.
Sanjay Lodha offered up to 2.86 million shares, Naveen Lodha offered up to 1.43 million shares, Vivek Lodha offered up to 1.43 million shares, Niraj Lodha offered up to 1.43 million shares, and Ashoka Bajaj offered up to 1.35 million shares. Automobiles Private Limited, according to the DRHP, will use the proceeds of the IPO to finance a Rs. 32.77 crore capital use, 128.02 crore long haul working capital, 22.50 crore for reimbursement or prepayment of specific remarkable borrowings, and general corporate purposes.
Equirus Capital Private Limited and IIFL Securities Limited will serve as the offer’s book-running lead managers, and Link Intime India Private Limited will serve as the registrar. It is anticipated that both the BSE and the NSE will list the equity shares.
A book building process is being used to make the offer. Qualified institutional buyers will receive at least 50% of the offer, non-institutional investors will receive 15% of the offer, and retail individual investors will receive at least 35% of the offer.
51 crores may be considered for a pre-IPO placement by the company in consultation with the issue’s lead bankers. The new issue will be smaller if this placement is completed.
One of the most prominent Indian-owned and-controlled original equipment manufacturers (OEMs) in the field of high-performance computing systems (HCS) is Netweb Technologies, which was founded in 1999 and offers Supercomputing Systems, Private Cloud and HCI, Data Center Servers, AI Systems and Enterprise Workstations, and HPS solutions Is. The DRHP mentions the F&S report.
By February 2023, Netweb will be able to design and manufacture over 300 supercomputing systems, over 4000 accelerator/GPU-based AI systems, and enterprise workstations. Offering. It is a very good quality registering arrangements (HCS) supplier situated in India serving various Indian and worldwide clients situated in India and developing its geographic impression in Europe, Center East and Africa (EMEA).
Between March 31, 2022 and February 28, 2023, its order book value increased by more than double, from 48.56 crores to 98.12 crores.
The company’s net profit for FY2022 increased by 172.82% to 22.45 crores, up from 8.23 crores the previous year, and revenue from operations is expected to rise by 73.0% to 247.03 crores from 142.79 crores.
The six months ended September 30, 2022 saw 143.02 crore in revenue from operations and a net profit of Rs. 14.73 cr.