On Wednesday, February 10, sources told CNBC-TV18 that the promoters of Netweb Technologies were to sell up to a 3% stake in the firm via block deals.

3.93% equity worth ₹682 crore changes hands; Stock declines 3% - CNBC TV18

Netweb Tech Block Deal: Key Highlights

On Thursday, February 12, a block deal involving Netweb Technologies India Ltd. took place, where 23.32 lakh shares, or 3.93% equity, worth ₹682.3 crore changed hands.

Background and Details of the Deal

Deal Size: ₹682.3 crore, representing 3.93% equity in Netweb Technologies India Ltd.
Selling Promoters: Sanjay Lodha, Navin Lodha, Niraj Lodha, and Vivek Lodha.
Offer Size: ₹514.5 crore, with a floor price of ₹3,027 per share.
Lock-in Period: 60 days for the sellers.

Company Performance

At the end of the December quarter, the promoters held significant stakes in the company: Sanjay Lodha (71%), Navin Lodha (28.3%), Niraj Lodha (14.15%), and Vivek Lodha (14.15%).

Revenue Growth: 140% in the third quarter to ₹804 crore, compared to the previous year.
EBITDA Growth: ₹97.5 crore, an increase from ₹44 crore in the previous year.