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 capital needs and support anticipated growth in its order book.