In the boom of the stock market, many IPOs have made investors rich. If you are also thinking of betting on IPOs, then at this time many IPOs are open for subscription. One of these IPO is Netweb Technologies. The company’s IPO opens on July 17 and will remain open till Wednesday, July 19, 2023. Netweb Technologies IPO has received strong response in the first two days. The company’s IPO has been subscribed more than 9 times in 2 days.

Shares of the company can be listed above Rs 850.
The price band of Netweb Technologies IPO is Rs 475-500. Market experts say that the company’s shares are trading at a premium of Rs 370 in the gray market. If the company’s shares are allotted at the upper price band of Rs 500 and the gray market premium of Rs 370 persists, then Netweb Technologies may get listed at Rs 870. That is, the company’s shares can make a profit of about 75% on the very first day.

Also read- This stock became a rocket after an announcement by Adani, the price rose by 8%, investors giggled

Company’s IPO subscribed more than 9 times
Netweb Technologies IPO has been subscribed 9.23 times in the first 2 days. The retail quota of the company’s IPO has been subscribed 9.04 times. Whereas, the quota of Non-Institutional Investors (NII) has been subscribed 18.47 times. While the Qualified Institutional Buyers (QIB) quota was subscribed 2.57 times. The allotment of shares in the company’s IPO may be finalized on July 24, 2023. At the same time, the shares of Netweb Technologies can be listed on BSE and NSE on July 27, 2023.

Also read- IndusInd Bank’s profit jumped 33%, benefited from improvement in bad loans

Disclaimer: Information about the performance of the stock is given here only, it is not an investment advice. Investment in share market is subject to risk and you should consult your advisor before investing.