Jobaaj Stories
Netweb Technologies Ltd. has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator SEBI to launch its IPO.
Netweb Technologies Ltd. is a leading High-end Computing Solutions (HCS) provider with fully integrated, innovative manufacturing and design capabilities. It is based in Kolkata, and was incorporated in 1999.
It has 14 offices spread throughout India. Further, providing variety of solutions Storage solutions, HCS, HPS, AI, Big Data, Surveillance and others.
The IPO will be a combination of fresh issue of Rs 275 crores, and OFS as existing promoters like Sanjay Lodha, Navin Lodha, Niraj Lodha and Ashoka Bajaj Pvt. Ltd. will be offloading their stakes.
The company will be using the proceeds of the public issue to set up, furnish and equip its Surface Mount Technology (SMT) line, meet its working capital needs, repay outstanding debt and other corporate purposes.
In FY22, the company had revenues of Rs 247.03 crores, growing 73% YoY. EBITDA margin improved to 14.37% during the year while net profit for the period surged 173% YoY to Rs 22.45 crores.
IIFL Securities and Equirus Capital are the lead managers of the issue.
- Aman Agarwal
