MUMBAI, 13^th JULY, 2023 (GPN): Delhi-NCR-based Netweb Technologies India Ltd (Netweb Technologies) one of country’s leading high-end computing solutions (HCS) provider, with fully integrated design and manufacturing capabilities (Source: F&S Report) has fixed the price band at ₹475 to ₹500 per Equity Share for its initial public offering of equity shares (“IPO” or “Offer”). The IPO will open on Monday, July 17, 2023, for subscription and closes on Wednesday, July 19, 2023. Investors can bid for a minimum of 30 Equity Shares and in multiples of 30 Equity Shares thereafter.

Netweb Technologies is compliant with the ‘Make in India’ Policy of the Government and is one of the few OEMs in the country eligible to seek production linked incentives schemes of the Government of India for IT Hardware for manufacture of servers, and Telecom and Networking Products Manufacturing in India for the manufacture of networking and telecom products (Source: F&S Report).

Netweb Technologies has both design and manufacturing capabilities inhouse and have undertaken installation of over 300 supercomputing systems and over 4000 accelerator / GPU based AI systems and enterprise workstations as of May 2023. Intel Americas, Inc., Advanced Micro Devices, Inc., Samsung India Electronics Private Limited, Nvidia Corporation are some of the companies it collaborates with to design and innovate product offerings.

It is a high-end computing solutions (HCS) provider based in India catering to many Indian and multinational Customers based in India and is planning to grow its geographical footprint in Europe, Middle East and Africa.

Between March 31, 2022 and May 31, 2023 it has almost doubled its order book value from Rs. 48.56 crore to Rs. 90.21 crore.

Speaking to GPN, Mr Sanjay Lodha, Chairman and Managing Director, Netweb Technologies India Ltd, said, “Our long-term goals are to deliver the exceptional capabilities of cloud computing for the use of different industries. We also have an ambitious plan in the areas of 5G and Private 5G deployment. Today, as a leading high-end computing solutions provider our HCS offering suits include High Performance Computing (HPC) Systems, Private cloud and hyperconverged infrastructure (HCI), AI systems and Enterprise workstations, High performance storage (HPS) solutions and Data Centre servers. We have  meticulously designed and developed cloud solution & cloud computing SKYLUS, Our related virtualization technology Kubyts System include speed, portability, baremetal performance, the capability to run multiple applications simultaneously, a container-optimized cloud, simpledeployment, and the availability of Tyrone AI experts.Netweb’s Tyrone ParallelStor and Dense Camarero systems with integrated private cloud plug-ins already to cater to the BFSI sector and it plans to leverage its expertise with parallel file system (PFS) solutions and cloud native designs and also design additional products in line with the evolving needs of the BFSI sector.”

As stated by Prime Minister Narendra Modi – “We need to make artificial intelligence in India and artificial intelligence work for India,” The list of top 500 supercomputers was dominated as of 2019 by China with 228 such facilities followed by the US (117 systems) and Japan (29 systems). To address these handicaps, one of the key recommendations by India was to set up an AI-specific cloud infrastructure, to compete and make a niche in the Arena.The latest announcement at The International Super-computing Conference (ISC 2023) held in Germany stated that India’s artificial intelligence (AI) supercomputer “AIRAWAT” (Artificial Intelligence Research, Analytics and knoWledge Assimilation Technology) platform has put India on top of AI supercomputing nations worldwide. Netweb Technologies, which is focused on high-end computing systems (HCS) with integrated design and manufacturing capabilities, has been associated with the country’s supercomputer journey. “We are a proud technology partner in this technology mission and have completed the supercomputing project in record time,” explains Mr Sanjay Lodha, CMD at Netweb Technologies.

He added, “The cloud computing market in India and across the globe is already huge.We are very excited for our IPO journey as we filed our DRHP on 28th March’2023 and hope to have a great IPO.We are looking to raise INR 2,570 million from primary offering of the ipo. Our Company proposes to deploy a portion of Net Proceeds from the IPO to set up a manufacturing facility towards setting up our new SMT line. With total CAPEX requirement of Rs 327.67 million for the new SMT Line, of which Rs. 89.5 million to be utilized towards Civil construction of the building for SMT line and interior development and Rs. 238.32 million to be utlilizedfor Purchase of equipment/ machineries for our new SMT production line. INR 1,280.22 million for funding our long-term working capital requirements. INR 225 million for outstanding borrowings and to  become zero debt Company.”

“Netweb, carving a niche for itself in the supercomputer mission, designs, manufactures and deploys its HCS comprising proprietary middleware solutions, end user utilities and pre-compiled application stack,” says Mr Hirdey Vikram, Chief Marketing Officer. “Our deep expertise in system design and architecture has helped us innovate and build bespoke solutions. The Indian supercomputing systems market is expected to grow from $539 million in Fiscal 2023 to $919 million in Fiscal 2029 at a CAGR of 9.3 per cent. ”

Since inception, Netweb has undertaken installations of over 300 supercomputing systems, more than 50 private cloud and HCI installations, over 4,000 accelerator/GPU based AI systems and enterprise workstations; and HPS solutions with throughput storage of up to 450 GB/sec. “The company’s proprietary designs are cloud-native which, in addition to technological benefits, are capable of catering to the evolving needs of customers,” says Prawal Jain, CFO & CHRO, Netweb Technologies.

“Netweb, on its part, caters to marquee customers across various end-user industries such as information technology, information technology enabled services, entertainment and media, banking, financial services and insurance (BFSI), national data centres and government entities including in the defence sector, education and research development institutions,” he added.

Netweb also caters to ISRO and an R&D organisation of the Ministry of Electronics and Information Technology, Government of India (MeitY). The company collaborates with various technology partners, such as Intel Americas, Inc. (Intel), Advanced Micro Devices, Inc (AMD), Samsung India Electronics Private Limited, Nvidia Corporation (Nvidia), and Seagate India Private Limited to design and innovate products and provide services tailored to specific customer requirements.

Its client roster includes Indian Institute of Technology (IIT) Jammu, IIT Kanpur, NMDC Data Centre Private Limited (NMDC Data Centre), Airamatrix Private Limited (Airamatrix), Graviton Research Capital LLP (Graviton), Institute of Nano Science and Technology (INST), HL Mando Softtech India Private Limited (HL Mando), Dr. Shyam Prasad Mukherjee International Institute of Information Technology, to name a few.

In case of any revision to the Price Band, the Bid/Offer Period will be extended by at least three additional Working Days after such revision in the Price Band, subject to the Bid/Offer Period not exceeding 10 Working Days. In cases of force majeure, banking strike or similar circumstances, the Company may, in consultation with the Book Running Lead Managers, for reasons to be recorded in writing, extend the Bid / Offer Period for a minimum of three Working Days, subject to the Bid/ Offer Period not exceeding 10 Working Days. Any revision in the Price Band and the revised Bid/Offer Period, if applicable, shall be widely disseminated by notification to the Stock Exchanges, by issuing a public notice, and also by indicating the change on the website of the Book Running Lead Manager and at the terminals of the Syndicate Member(s) and by intimation to the Designated Intermediaries and the Sponsor Bank, as applicable.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders. The Offer also includes an Employee Reservation Portion of up to 20,000 Equity Shares.

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

RHP Link: https://www.sebi.gov.in/filings/public-issues/jul-2023/netweb-technologies-india-limited-rhp_73853.html