Netweb Technologies raised ₹1,200 crore from marquee investors including Nomura, Goldman Sachs, and ICICI Prudential. The stock surged 4.14% to a new high of ₹5,674.80.
Netweb Technologies India Ltd raised ₹1,200 crore through a qualified institutional placement, allotting shares at ₹4,790 each to institutional investors, the company said late Thursday. The stock rose 4.14% on the NSE on Friday to ₹5,644, touching a 52-week high of ₹5,674.80 intraday.
The fund-raising committee approved the allotment on August 20, issuing 25,05,219 equity shares at a 1.96% discount to the floor price. Nomura India Investment Fund Mother Fund took the largest single allocation: 3,28,064 shares, or 13.10% of the issue. Goldman Sachs (GS) funds, through the Goldman Sachs India Equity Portfolio, received 2,80,740 shares, or 11.21%. Think India Opportunities Master Fund LP got 2,08,768 shares, or 8.33%.
On the domestic side, ICICI Prudential Mutual Fund schemes collectively took 16.67% of the issue on a PAN-clubbed basis. The Flexicap Fund alone accounted for 1,92,709 shares. Invesco India Flexi Cap Fund was allotted 1,56,577 shares, or 6.25%.
The placement expanded the company's paid-up equity capital from ₹11.38 crore to ₹11.88 crore, increasing the share count to 5,94,45,906. Each share carries a face value of ₹2 and was issued at a premium of ₹4,788.
Netweb's stock has returned 173.40% over the past year and 83.62% year-to-date. Over the same periods, the NIFTY 500 returned just 1.65% and 1.63%. The company's market capitalisation stands at roughly ₹32,137 crore. Trading volume on Friday reached ₹1,927.94 crore.
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