Web Technologies IPO Subscription Status: Exciting Response on Day One – Subscribed 2.33 Times!

Web Technologies Limited’s Initial Public Offering (IPO) received 2.33 times as many subscriptions on the first day as reported by ChatGPT. The initial public offering (IPO) began taking subscriptions on July 17 and will end on July 19th.

Retail Investors, Employees, NIIs, and QIBs Drive Web Technologies IPO Demand

Employees and retail investors were the first to respond enthusiastically to this opportunity on the first day, followed by qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

Retail investors bought three times the number of shares they were assigned, while employees bought six times as much, NIIs bought three and a half times as many, and QIBs bought three percent of the shares.

88,58,630 shares were offered, however the company got offers for 2,06,05,890 shares, according to BSE statistics.

There were offers for 1,34,67,090 shares from retail investors vs the allotment of 44,86,263 shares.

In contrast to the distribution of 20,000 shares, employees bid for 1,32,000 shares.

In contrast to the allotted 19,22,685 shares, NIIs bid for 69,40,080 shares.

Against the allotment of 24,29,682 shares in this sector, QIBs bid for 66,720 shares.

IPO

Investment Focus: Web Technologies IPO Proceeds Allocated for Expansion and Debt Repayment

The price range for the IPO was set by the company at $475 to $500 per equity share. High net worth individuals (HNIs) with higher value bids are eligible to 15% of the offer, qualified institutional buyers are entitled to 50% of the offer, and ordinary investors are entitled to 35%.

Web Technologies India raised 189.01 crores from anchor investors on Friday, July 14. According to the company’s statement provided to exchanges, 25 anchor investors received 37.80 lakh equity shares at the top of the 500 per share price range.

Nomura Funds, Goldman Sachs Funds, Eastspring Investments India Fund, Motilal Oswal MF, Franklin Templeton, Nippon Life India Trustee, HDFC Mutual Fund, ICICI Prudential, Aditya Birla Sun Life Trustee, Axis Mutual Fund, and White Oak Capital were among the investors who participated in the anchor book.

By issuing new shares for 206 crores and selling promoter shares for 425 each, the business hopes to raise 631 crores from the IPO.

The Surface Mount Technology (SMT) line building costs, internal development, and the procurement of machinery and equipment for the SMT manufacturing line are only a few of the expenses that the company aims to pay for with the funds from the IPO.

The profits will also be used to pay for general company purposes, the repayment of certain borrowings, and long-term working capital requirements.

Equitas Capital Private Limited and IIFL Securities Limited are the IPO’s Book Running Lead Managers, and Link Intime India Private Limited is the issue’s registrar.

The IPO for Web Technologies has begun. Are you considering applying?

https://www.chittorgarh.com/report/ipo-in-india-list-main-board-sme/82/

6 thoughts on “Web Technologies IPO Subscription Status: Exciting Response on Day One – Subscribed 2.33 Times!”

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