Netweb Technologies India Limited , a leading player in the technology sector, has announced a significant business development that is set to bolster its position in the AI infrastructure market.

Major Contract Secured

Netweb Technologies has received a purchase order worth approximately Rs. 450.00 crores (excluding taxes) for supplying Tyrone AI GPU Accelerated Systems. This substantial order comes from one of the largest Indian-headquartered global providers of technology distribution and integrated supply chain solutions.

Contract Details

The contract involves the deployment of an AI infrastructure facility using Tyrone AI GPU-accelerated systems. According to the company's regulatory filing, the execution of this order is scheduled to be completed by the end of the financial year 2025-26.

Strategic Implications

This order represents a significant milestone for Netweb Technologies, showcasing the company's capabilities in providing cutting-edge AI infrastructure solutions. The substantial value of the contract, at Rs. 450.00 crores, underscores the scale and importance of this deal for the company.

Key Points of the Order

Company Statement

In its regulatory filing, Netweb Technologies stated, "We are pleased to inform you that the Company has received the Purchase order for the supply of Tyrone AI GPU Accelerated Systems." The company also confirmed that the order is from a domestic entity and does not involve any related party transactions or interests from the promoter group.

This significant order highlights Netweb Technologies' strong position in the AI infrastructure market and its ability to secure large-scale contracts from major players in the technology distribution sector. As the company moves forward with the execution of this order, it is likely to strengthen its market presence and financial performance in the coming years.

Netweb Technologies India Limited has seen a significant reduction in shareholding by Goldman Sachs Asset Management International (GSAMI), resulting in the firm no longer being a substantial shareholder of the company.

Stake Reduction Details

According to a disclosure filed with the stock exchanges, GSAMI and its associated entities have decreased their stake in Netweb Technologies from 5.481% to 3.423%. This reduction was executed through an open market sale on September 16, involving the disposal of 1,134,042 equity shares.

Breakdown of the Transaction

The stake reduction involved multiple entities acting in concert:

1. Goldman Sachs Asset Management International (GSAMI)
2. Goldman Sachs Asset Management, L.P (GSAMLP)
3. Goldman Sachs Asset Management B.V (GSAMBV)
4. Goldman Sachs Asset Management (Singapore) Pte. Ltd. (GSAMSG)

Current Shareholding Structure

Following the transaction, the shareholding structure of GSAMI and its associated entities in Netweb Technologies stands as follows:

Company Capital Structure

As per the disclosure, Netweb Technologies' total equity share capital now stands at 56,653,868 shares, valued at Rs. 113,307,736. This represents an increase from the previous 56,064,980 shares, indicating that the company has issued additional shares since the last disclosure.

Market Impact

The significant reduction in GSAMI's stake could potentially impact market sentiment towards Netweb Technologies. However, it's important to note that such transactions by institutional investors are not uncommon and can be part of their portfolio management strategies.

Investors and market analysts will likely be watching closely to see if this move by Goldman Sachs Asset Management International signals any broader trends or changes in the perception of Netweb Technologies' future prospects.

Shareholders and potential investors are advised to conduct their own research and consult with financial advisors before making investment decisions based on this development.