How To Check IPO Allotment Status For Netweb Technologies

Netweb Technologies is likely to finalise the allotment of IPO shares today, July 24, after a strong response to its public issue. Here’s a step-by-step guide on how to check your IPO allotment status online on the BSE website and the official registrar’s portal, Link Intime India Pvt Ltd.

Checking IPO Allotment Status on BSE Website:

Step 1: Head to the BSE website.
Step 2: Choose ‘Equity' and the Issue Name ‘Netweb Technologies.
Step 3: Input either your ‘Application Number' or ‘PAN'.
Step 4: Check the box that is labelled "I am not a robot" and click the ‘Search' button.

Checking IPO Allotment Status on Link Intime India Pvt Ltd Website:

Step 1: Head to the Link Intime India Pvt Ltd portal.
Step 2: Select the Issue Name ‘Netweb Technologies – IPO'.
Step 3: Choose and enter either ‘PAN', ‘Application Number', or ‘DP Client ID'.
Step 4: Click the ‘Search' button.

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Investors who received share allotments should see the shares credited to their demat accounts by July 26. The shares are set to list on both the BSE and NSE on July 27.

Investors subscribed to the IPO of Delhi-based Netweb Technologies over 90 times, with the company receiving bids for 79.95 crore equity shares, which significantly surpassed the offer size of 88.58 lakh equity shares.

Due to the huge oversubscription of the IPO, many investors may not receive any shares under the offer. In such cases, the company will start crediting refunds to the investors' bank accounts by July 25.

Netweb Technologies offered its shares in the IPO, which was open for subscription from July 17-19, in a price range of ₹475-500 apiece. According to market observers, the stock is commanding a premium of around ₹360 in the unlisted market, indicating big listing gains for investors.

The company intends to raise ₹631 crore via its public offer that comprises a fresh issue of ₹206 crore and an offer for sale (OFS) of ₹425 crore by promoters, at the higher end of the price band.

Read next: Reliance Ready To Roll Out New JioBook On July 31: A Step-Up From Its Predecessor?

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Posted In: EquitiesEducationMarketsGeneralIPONetweb Technologies