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What is the story about?
Promoters of Netweb Technologies are expected to sell up to a 3% stake in the company via block deals, sources said.
The selling promoters include Sanjay Lodha, Navin Lodha, Niraj Lodha, and Vivek Lodha.
The offer size is ₹514.5 crore, with a floor price set at ₹3,027 per share, according to sources. This floor price is at a discount of up to 4% compared to the last close.
There will be a 60-day lock-in period for the sellers, according to sources.
Netweb Tech shares jump 11% after strong AI performance, order pipeline in Q3
In Q3, AI systems were a strong contributor to the quarterly results.
The segment contributed to 64.2% of Netweb's overall topline for the quarter, while for the first nine months of the financial year, the contribution stood at 47.6%.
In the third quarter, the company's revenue of ₹804 crore rose by 140% from the same quarter last year and was a strong beat on expectations.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹97.5 crore from ₹44 crore last year. EBITDA margins though, declined sequentially as well as from the same period last year. The management had highlighted during the earnings call that strategic order execution will impact PBT margins by 150-200 basis points.
Shares of Netweb Technologies India were down 0.79% and traded at ₹3153.15 apiece on the BSE.
The selling promoters include Sanjay Lodha, Navin Lodha, Niraj Lodha, and Vivek Lodha.
The offer size is ₹514.5 crore, with a floor price set at ₹3,027 per share, according to sources. This floor price is at a discount of up to 4% compared to the last close.
There will be a 60-day lock-in period for the sellers, according to sources.
Netweb Tech shares jump 11% after strong AI performance, order pipeline in Q3
In Q3, AI systems were a strong contributor to the quarterly results.
The segment contributed to 64.2% of Netweb's overall topline for the quarter, while for the first nine months of the financial year, the contribution stood at 47.6%.
In the third quarter, the company's revenue of ₹804 crore rose by 140% from the same quarter last year and was a strong beat on expectations.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹97.5 crore from ₹44 crore last year. EBITDA margins though, declined sequentially as well as from the same period last year. The management had highlighted during the earnings call that strategic order execution will impact PBT margins by 150-200 basis points.
Shares of Netweb Technologies India were down 0.79% and traded at ₹3153.15 apiece on the BSE.
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