Netweb Technologies shares hit a 52-week high of Rs 5,579 after the company raised Rs 1,200 crore via a qualified institutional placement.

Netweb’s fund-raising committee approved the allotment of 25,05,219 equity shares to institutional buyers at Rs 4,790 apiece, a price that works out to a discount of 1.96% to the regulatory floor price of Rs 4,885.90.

Large institutional names including ICICI Prudential, Nomura, Goldman Sachs, Think India Opportunities Master Fund, Edelweiss and Invesco took part in the issue, though the exact share of allotment across these investors has not been officially confirmed in exchange filings.

The company had opened the QIP on Monday, August 17, with an indicative price band of Rs 4,710 to Rs 4,790 per share, after its board cleared the fundraising plan on July 1 and shareholders approved it on August 1.

Following the allotment, Netweb paid-up equity capital has risen to Rs 11,88,91,812, made up of 5,94,45,906 equity shares of Rs 2 each, up from 5,69,40,687 shares earlier.

The fundraise lands right after a strong quarter for the company. Netweb reported its Q1 FY27 results on July 28, posting a 172.13% year-on-year jump in revenue from operations to Rs 819.69 crore.

Profit after tax more than doubled to Rs 85.32 crore over the same period. AI server sales did much of the heavy lifting, growing close to sixfold from a year earlier and now making up a large share of total revenue.

The company also carries an order book of more than Rs 2,500 crore heading into the new quarter.

As of 9:40 am, Netweb shares were trading at Rs 5,538.70 on the NSE, up 2.19% for the day. The stock has gained over 30% in the past month alone and is up more than 80% since the start of the year.

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