new delhi the ipo of netweb technologies india a domestic server manufacturer is open for public subscription from july 17 to july 19 the company has set a price band of rs 475500 per share for the ipo which amounts to a total of rs 631 crorethe company plans to utilize the proceeds from the ipo as follows rs 3277 crore for capital expenditure rs 12802 crore for longterm working capital rs 225 crore for debt payment and the remaining amount for general corporate purposesthe company has already collected rs 189 crore from anchor investors days ahead of its initial public offering ipothe company has allocated 378 lakh equity shares to 25 funds at rs 500 per share which is also the upper end of the ipo according to a circular uploaded on bse websitenomura funds goldman sachs funds icici prudential mutual fund mf hdfc mf whiteoak mf and nippon mf among others participated in the anchor roundnetweb technologies headquartered in delhi ncr is a prominent provider of highend computing solutions hcs in india it is among the few original equipment manufacturers oems in the country and has received productionlinked incentives from the government of indiahere are what some brokerage recommendations on netweb technologies ipo aresome of the brokerage recommendations on netweb technologies ipo areicici direct icici direct has given a subscribe rating to the ipo with a price target of rs 1250 the brokerage firm believes that netweb technologies is a wellmanaged company with a strong track record of growthhdfc securities hdfc securities has also given a subscribe rating to the ipo citing the companys leadership position in the highend computing solutions market its diversified customer base its strong rd capabilities and its attractive valuationsharekhan sharekhan has given a neutral rating to the netweb technologies india ipowith inputs from agencies