Shares of Netweb Technologies India experienced a strong upward surge during Friday morning trade, rising nearly 3.9% to hit a fresh 52-week high of Rs 5,642.00 per share on the BSE. The sharp move in the stock came right after the high-performance computing solution provider announced the formal closure and allotment of its Rs 1,200 crore qualified institutional placement (QIP).
The enterprise server maker informed stock exchanges late Thursday night that its fund-raising committee had approved the allotment of 25.05 lakh equity shares with face value of Rs 2 each to eligible institutional buyers. The issue price was set at Rs 4,790 per equity share, which includes a premium of Rs 4,788 per share. This issue price reflects a slight discount of 1.96% (or Rs 95.90 per share) against the SEBI-calculated regulatory floor price of Rs 4,885.90 per share.
