New Delhi, Jul 27 (IANS): Initial Public Offering (IPO) of Netweb Technologies India got listed on Thursday on the stock exchanges with a premium of around 89 per cent.

Equirus acted as the book-running lead manager for the IPO, assisting Netweb Technologies India in raising capital from the market.

The stock made its debut on the NSE at Rs 947, marking a significant premium of 89.4 per cent over the issue price of Rs 500. Likewise, its debut on BSE was impressive, opening at Rs 942.5 per share, up by 88.5 per cent.

The IPO received an overwhelming response from investors, with a subscription rate of a remarkable 90.55 times.

The public issue witnessed exceptional demand across all categories, with an astounding 220.10 times in the Qualified Institutional Buyers (QIB) category (excluding Anchor), an impressive 84.21 times in the Non-Institutional Investors (NII) category as of July 19, 2023, and a subscription rate of 19.59 times in the retail category.

Netweb Technologies India is India’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities.