Netweb Technologies has launched a Rs 631 crore-initial public offering (IPO) for its high-end computing solutions.

The IPO is open from July 17 to July 19.

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The IPO includes a fresh issue of equity shares worth up to Rs 206 crore and an offer-for-sale of up to 8.5 million equity shares.

The shares are priced between Rs 475 and Rs 500 per share.

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Netweb Technologies raised Rs 189 crore from anchor investors before the IPO.

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Revenues for the year ending March 2022 stood at Rs 445 crore, with a profit of Rs 46.9 crore during the same period.

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The net offer reserves 50% for Qualified Institutional Buyers (QIB), 15% for non-institutional bidders (NII), and 35% for retail investors.

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The funds raised through the IPO will be utilized for capital expenditure, long-term working capital, and debt repayment.

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Netweb Technologies' shares are expected to be listed on both exchanges.

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