All eyes are now on the allotment date of Netweb Technologies IPO after the closure of bidding for the book build issue. The IPO allotment date is expected to be on 24th July 2023, which falls on Monday next week. During the three days of bidding from 17th to 19th July 2023, the public response to Netweb Technologies IPO was overwhelmingly positive, with the public offer getting subscribed 90.36 times and the retail portion being subscribed 19.15 times.
This strong subscription status has also impacted the grey market, which has turned bullish on the public issue. Currently, shares of Netweb Technologies are available at a premium of ₹380 in the grey market, which is ₹20 higher than the previous day’s grey market premium of ₹360. Market observers attribute this rise in the grey market premium to the overall positive trend in the stock market and the strong response from investors.
The grey market premium of ₹380 indicates that the grey market expects the listing price of Netweb Technologies IPO to be around ₹880 (₹500 + ₹380), which would be approximately 76% higher than the issue price band of ₹475 to ₹500 per share. The book build issue is likely to give more than a 75% listing premium to its allottees on the IPO listing date, which is expected to be on 27th July 2023.
However, experts caution investors against relying too much on the grey market sentiments as the grey market is speculative in nature and is not regulated. They advise investors to carefully analyze the company’s balance sheet to get a more concrete and fundamental picture of the company.
For investors who have applied for the Netweb Technologies IPO, they can check their allotment status online by logging in to the official website of BSE or the website of the official registrar of the IPO, 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
