Allotment of shares of high-end computing solutions provider Netweb Technologies is likely to be finalised today, July 24, after bidding for the initial public offer (IPO) concluded on July 19.

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The IPO of Delhi-based Netweb Technologies was subscribed over 90 times, with bids received for 79.95 crore equity shares, widely surpassing the offer size of 88.58 lakh equity shares.

Investors who have subscribed for shares under the offer can check the allotment status for their applications online on the website of the official registrar of the IPO — Link Intime India Pvt Ltd.

Click on the link https://linkintime.co.in/mipo/ipoallotment.html, and select Netweb Technologies from the dropdown menu. You will need to submit either your PAN details, application ID or demat account number/DP client ID to check the status.

Alternatively, you may also visit the official BSE website and check the allotment status there with your application number and PAN details. Visit the link bseindia.com/investors/appli_check.aspx. Select the box ‘Equity’ in the issue type, select the IPO name and enter your application number and PAN number to check the status.

Since the IPO has been hugely oversubscribed, chances remain high that the majority of investors do not receive any shares under the offer. In such cases, refunds should start getting credited into the investors’ bank accounts by July 25.

Investors who have been allotted shares can expect the credit of shares in their demat accounts by July 26. The shares are expected to be listed on both BSE and NSE on July 27.

Netweb Technologies offered its shares in the IPO, which was open for subscription from July 17-19, in a price range of Rs 475-500 apiece. According to market observers, the stock is commanding a premium of around Rs 360 in the unlisted market, indicating big listing gains for investors.

The company intends to raise Rs 631 crore via its public offer that comprises a fresh issue of Rs 206 crore and an offer for sale (OFS) of Rs 425 crore by promoters, at the higher end of the price band.