Netweb Technologies IPO: Latest GMP, how to check allotment status online
Netweb Technologies IPO: After strong response by investors to the initial public offering (IPO) of Netweb Technologies India Ltd, investors are eagerly waiting for the Netweb Technologies IPO allotment date, which is likely on 24th July 2023, i.e. on Monday next week. In three days bidding from 17th to 19th July 2023, Netweb Technologies IPO subscription suggests that the public issue received strong response from investors in all categories. The book build issue got subscribed 90.36 times whereas its retail portion got subscribed 19.15 times. Grey market is also signaling strong listing premium for investors. According to market observers, shares of Netweb Technologies are available at a premium of ₹360 in grey market today.
Netweb Technologies IPO GMP today
Market observers said that Netweb Technologies IPO grey market premium (GMP) today is ₹360, which is ₹20 lower from its Friday GMP of ₹380. However, they maintained that despite big dip in the Indian stock market, this dip in GMP should not be a worry for bidders. They listed out two reasons that are enough for being bullish on the public issue — first and foremost overall positive stock market trend and second is strong response given by the investors. The QIB portion of the public issue got subscribed 228.91 times. Market observers said that Indian stock market has been climbing to record highs on a regular basis and in this participatory rally primary market has got its momentum going. After strong listing of ideaFroge, Senco Gold and Utkarsh Small Finance Bank shares, IPO market has also gone highly bullish like secondary market.
What this GMP mean?
Market observers said that Netweb Technologies IPO GMP today is ₹360, which means grey market is expecting that Netweb Technologies IPO listing price would be around ₹860 ( ₹500 + ₹360), which is around 75 per cent higher from Netweb Technologies IPO price band of ₹475 to ₹500 per share. They went on to add that ahead of Netweb Technologies allotment date, grey market is signaling that the book build issue may give around 75 per cent listing premium to its allottees on Netweb Technologies IPO listing date, which is likely on 27th July 2023.
However, stock market experts maintained that one should not rely much on the grey market sentiments as GMP is completely speculative in nature and it is non-regulated as well. They advised investors to go through the balance sheet of the company as it would give concrete fundamental picture of the company.
Netweb Technologies IPO allotment status
After announcement of share allotment, bidders will be able to check Netweb Technologies IPO allotment status online by logging in at the BSE website or at website of the IPO registrar. Link Intime Private Limited has been appointed as official registrar of the Netweb Technologies IPO. For more convenience, they can login at direct BSE link — https://www.bseindia.com/investors/appli_check.aspx or at direct or at direct Link Intime web link — linkintime.co.in/mipo/ipoallotment.html.
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Updated: 22 Jul 2023, 12:44 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.