Netcad Software, the clear market leader in Geographic Information Systems (GIS) software in Türkiye and one of the key players in the computer-aided design (CAD) engineering software sector, has completed its initial public offering with strong investor demand, marking the highest level of investor participation in the past 20 months.
The bookbuilding process, conducted on January 28–29–30, 2026, through a consortium led by Info Investment, generated demand equivalent to approximately 5.6 times the total number of shares offered in the IPO. Nearly 1 million investors received share allocations, setting a participation record in terms of investor count.
Demand Exceeds One Million Investors
With 37 years of experience, Netcad Software supports the digital transformation of local governments, public institutions, and private enterprises through its domestically developed software solutions. The company successfully completed its IPO amid strong interest from both retail and institutional investors.
During the offering:
- 1,022,457 domestic retail investors submitted applications, representing 2.6 times the allocated amount.
- 270 domestic institutional investors generated demand equal to 12.1 times their allocation.
- 18 foreign institutional investors submitted demand amounting to four times their allocation.
In total, 1,022,745 investors placed orders, corresponding to 5.6 times the total IPO size.
Allocation Details
A total of 40 million shares were allocated to 994,998 investors, broken down as follows:
- 24 million shares to 994,717 domestic retail investors
- 12 million shares to 270 domestic institutional investors
- 4 million shares to 11 foreign institutional investors
The allocation ratios were set at 60% for domestic retail investors, 30% for domestic institutional investors, and 10% for foreign institutional investors.
The Netcad IPO not only set a record for investor participation over the past 20 months, but also surpassed the one million investor threshold, a level that recent offerings had been unable to reach.
Company Aims to Become a Regional Technology Player
Commenting on the IPO, Deniz Şanan, General Manager of Netcad Software, said the strong demand confirmed investor confidence in the company’s business model and long-term growth strategy.
“The intense interest we received from investors in an offering launched with a target of one million participants is a clear indication of trust in our company and our growth vision,” Şanan said, describing the IPO as a major milestone in strengthening Netcad’s corporate identity and supporting its sustainable growth journey.
Focus on R&D and Advanced Technologies
Şanan noted that Netcad plans to allocate a significant portion of the IPO proceeds to research and development, with a focus on artificial intelligence, digital twin technologies, 3D modeling, and cloud-based solutions.
“As a domestic software company holding a leadership position in Türkiye within a sector dominated globally by major technology firms, we are now shifting our focus toward becoming a regional force,” he said. “By deepening our presence in new verticals and expanding our geographic footprint, we aim to create sustainable and scalable growth in markets with high digitalization needs.”
“With the strong support we have received from investors, we are determined to position Netcad as a more ambitious and competitive player at the regional level,” Şanan added.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök