Netweb Technologies Raises ₹1,200 Cr Through QIP

Netweb Technologies Raises ₹1,200 Cr Through QIP

Delhi-based high-performance computing and data infrastructure company Netweb Technologies has raised ₹1,200 crore through a qualified institutional placement (QIP), issuing shares to a group of eligible institutional investors including ICICI Prudential AMC, Nomura India Investment Fund, Goldman Sachs India Equity Portfolio and Think India Opportunities Master Fund.

The company's fundraising committee approved the issue and allotment of 25.05 lakh equity shares with a face value of ₹2 each at an issue price of ₹4,790 per share. The issue price represented an 11.5% discount to the company's closing share price on August 20.

Following the allotment, Netweb Technologies' paid-up equity share capital increased to ₹11.88 crore, comprising 5.94 crore equity shares, from ₹11.38 crore comprising 5.69 crore shares.

Several major institutional investors participated in the QIP. ICICI Prudential AMC received 16.67% of the total issue, followed by Nomura India Investment Fund Mother Fund at 13.1% and Goldman Sachs India Equity Portfolio at 11.21%.

Think India Opportunities Master Fund and Edelweiss MF each accounted for 8.33% of the QIP, while Invesco India Flexicap Fund received 6.25%.

Netweb had launched the QIP on August 17 with the objective of raising up to ₹1,200 crore at an indicative issue price of ₹4,710 to ₹4,790 per share. The company's board had approved the fundraising in July, while shareholders approved the proposal through a special resolution on August 1.

The fundraising comes as Netweb continues to report strong financial growth. In the first quarter of the current financial year, the company reported a profit after tax of ₹85.3 crore, compared with ₹30.4 crore in the same period a year earlier and ₹70.5 crore in the previous quarter.

Revenue for the quarter rose to ₹819 crore, compared with ₹301 crore in the corresponding period of the previous financial year and ₹773.7 crore sequentially.

The QIP provides Netweb Technologies with fresh institutional capital as it continues to expand its business and invest in its growth. The participation of large domestic and international institutional investors also gives the company a broader institutional shareholder base.

With the fundraising now completed, the focus will shift toward how effectively Netweb deploys the ₹1,200 crore of capital to support its next phase of expansion while maintaining the strong financial growth reported in recent quarters.