The stock declined as much as 10% to ₹4,450.00 before recovering some losses to trade 8% lower at ₹4,561.65.
In an exchange filing, Netweb Technologies said its board will meet on Wednesday, July 1, to evaluate and, if approved, authorise one or more fund-raising proposals.
The company said it may raise capital through the issuance of equity shares, preference shares, convertible or non-convertible debentures, warrants or other equity-linked securities, either individually or in combination.
The fund raise could be carried out through one or more routes, including a qualified institutions placement (QIP), private placement, follow-on public offer (FPO), rights issue or any other permissible method. The proposal may also include a greenshoe option, where applicable.
