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.

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.

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

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

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

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

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

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