Netweb Technologies shares fall 4% after raising Rs 1,200 crore through QIP
Netweb Technologies shares fell nearly 4% after the company completed its Rs 1,200 crore Qualified Institutions Placement (QIP), its first equity capital raise since listing in July 2023. The issue drew strong participation from global and domestic institutional investors, including Nomura, Goldman Sachs Asset Management and several mutual funds. The company will use the proceeds to meet working…
Netweb Technologies' shares experienced a 4% decline on Tuesday, plummeting to a low of Rs 5,220 on the NSE following the company's announcement of successfully completing its Rs 1,200 crore Qualified Institutional Placement (QIP). The QIP, the company's first equity capital raised since listing on the NSE and BSE in July 2023, garnered attention from global and domestic investors, with major players including Goldman Sachs, Nomura, and various mutual funds showing strong interest.
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