Netweb Technologies IPO: After closure of bidding for the book build issue, all eyes are set on Netweb Technologies IPO allotment date, which is most likely on 24th July 2023 i.e. on Monday next week. In three days of bidding from 17th to 19th July 2023, Netweb Technologies IPO subscription status suggests that the public issue got strong response from the investors. The public offer got subscribed 90.36 times whereas its retail portion got subscribed 19.15 times. After this strong subscription status, grey market has also gone bullish on the public issue. According to market observers, shares of Netweb Technologies are available at a premium of ₹380 in grey market today.
Netweb Technologies IPO GMP today
Market observers said that Netweb Technologies IPO grey market premium (GMP) today is ₹380, which is ₹20 higher from its Thursday GMP of ₹360. They said that two reasons can be attributed to this rise in grey market sentiments. First and foremost 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 ₹380, which means grey market is expecting that Netweb Technologies IPO listing price would be around ₹880 ( ₹500 + ₹380), which is around 76 per cent higher from its issue price band of ₹475 to ₹500 per share. They went on to add that grey market is signaling that the book build issue may give more than 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: How to check allotment status
For those, who have applied for the IPO, they are advised to login at the official website of BSE and check their application status online. As an alternative, they can check their Netweb Technologies IPO allotment status online by logging in at the website of official registrar of the IPO. The official registrar of the IPO is Link Intime India Private Ltd.
The direct link to check Netweb Technologies IPO allotment status are as follows:
BSE link: bseindia.com/investors/appli_check.aspx
Link Intime link: linkintime.co.in/mipo/ipoallotment.html
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Updated: 21 Jul 2023, 03:25 PM IST