IPO market continues momentum with two more issues set to hit the Street this week

In the upcoming week, two more IPOs are set to hit the markets including the mainstream one of Netweb Technologies. The other issue is Asarfi Hospitals in the SME space.

Netweb Technologies, whose IPO opens on July 17 and closes on July 19, is an HCS (high-end computing solutions) provider based in India, that serves a diverse range of Indian and multinational customers within the country.

The company’s HCS offerings comprise high-performance computing systems, private cloud, and hyper-converged infrastructure, AI systems and enterprise workstations, high-performance storage, data center servers, and software and services.

The IPO of Netweb comprises a fresh issue of equity shares of up to Rs 206 crore and an offer-for-sale (OFS) of up to 8.5 million equity shares by promoter-selling shareholders.

Under the OFS, Sanjay Lodha will offload 2.8 million shares, while Navin Lodha, Niraj Lodha, and Vivek Lodha will sell 1.43 million shares each.

The company has fixed the price band at Rs 475-500 per equity share for its public offer. Investors can bid for a minimum of 30 shares and in multiples thereafter.Proceeds from the issue will be used for funding its capital expenditure, long-term working capital, and repayment, in full or in part, of debt.

Equirus Capital and IIFL Securities are the book-running lead managers and Link Intime India Private Limited is the registrar for the offer.

Meanwhile, Asarfi Hospital’s Rs 26.9 crore IPO in the SME space will also hit the markets on July 17. The issue closes on July 19.

Asarfi Hospital is a 250 bedded multi-specialty hospital, which has been serving people for over one and half decade by providing healthcare services in Dhanbad, Jharkhand.

The IPO is entirely a fresh equity issue of up to 51.8 lakh equity shares. The company will offer its shares at a price band of Rs 51-52 apiece, and investors can bid for 2,000 shares in 1 lot.