Net Avenue Technologies Limited
- IPO Date30 Nov, 2023 to 04 Dec, 2023
- Listing Date12 Dec, 2023
- Face Value₹1 per share
- Issue Price₹16 to ₹18 per share
- Lot Size8000 Shares
- Minimum Investment₹1,44,000
- Listing AtNSE SME
- Total Issue Size56,96,000 Shares
(aggregating up to ₹10.25 Cr) - Fresh Issue56,96,000 Shares
(aggregating up to ₹10.25 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue1,57,58,078
- Shareholding post issue2,14,54,077
IPO Dates
Closing Date
04 Dec, 2023
Initiation of Refunds
11 Nov, 2023
Listing Date
12 Dec, 2023
30 Nov, 2023
Opening Date
07 Dec, 2023
Basis of Allotment
11 Nov, 2023
Credit of Shares
Net Avenue Technologies Limited Lot Size
Investors can bid for a minimum of 8000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| HNI (Min) | 2 | 16000 | ₹2,88,000 |
| Retail (Min) | 1 | 8000 | ₹1,44,000 |
| Retail (Max) | 1 | 8000 | ₹1,44,000 |
Net Avenue Technologies Limited Promoter Holding
Mr. Rajesh Nahar and Mr. Ritesh Katariya are the promoters of the company.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 45.31% | 33.28% |
Key Performance Indicator
Net Avenue Technologies IPO Market Cap is Rs 38.62 Cr and P/E (x) is 8.57.
| KPI | Values |
|---|---|
| ROE | 127.77% |
| ROCE | 5.28% |
| RoNW | 75.53% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.57 | 2.1 |
| P/E (x) | 8.57 | 2.1 |
Net Avenue Technologies Limited COMPANY INFORMATION
Net Avenue Technologies IPO is a book built issue of Rs 10.25 crores. The issue is entirely a fresh issue of 56.96 lakh shares. Net Avenue Technologies IPO opens for subscription on November 30, 2023 and closes on December 4, 2023. The allotment for the Net Avenue Technologies IPO is expected to be finalized on Thursday, December 7, 2023. Net Avenue Technologies IPO will list on NSE SME with tentative listing date fixed as Tuesday, December 12, 2023. Net Avenue Technologies IPO price band is set at ₹16 to ₹18 per share. The minimum lot size for an application is 8000 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (16,000 shares) amounting to ₹288,000. Shreni Shares Limited is the book running lead manager of the Net Avenue Technologies IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Net Avenue Technologies IPO is Shreni Shares. Refer to Net Avenue Technologies IPO RHP for detailed information.
Incorporated in 1998, Net Avenue Technologies Limited, previously known as Net Avenue Inc. is engaged in online digital direct-to-consumer business for Indian Ethnic wear and accessories.
Net Avenue Technologies started out as a gifting portal - chennaibazaar.com, one of the first Indian gifting portals, offering gifting solutions to Indians living abroad. The company subsequently diversified its offerings and launched cbazaar.com and ethnovog.com providing Indian ethnic clothes and jewellery.
- Cbazaar is a global Indian Ethnic Fashion brand specializing in Direct-to-Consumer Online Retail. Its primary markets include the United States, the UK, and Canada.
- Ethnovog is an online apparel store offering size-inclusive and budget-friendly fashion choices for women, teens, and kids.
Net Avenue Technologies primarily caters to South Asian countries. Other than that the company's clientele includes customers from countries like the United States, United Kingdom, Australia, and Canada. The company's distributing partners include Myntra, Nykaa, Ajio, and so on.
The company's product portfolio includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008 the company launched its own luxury brand - RaiR, a high-end designer Indian clothing.
Net Avenue Technologies' Cbazaar.com was rated as one of the best online shops in the United States in 2020 and one of the fastest-growing brands in the United States in 2022.
FAQs About Net Avenue Technologies Limited
Net Avenue Technologies Limited will open on 30 Nov, 2023 and close on 04 Dec, 2023. Investors must apply within this period to participate.
The Net Avenue Technologies Limited price band is set between ₹16.00 and ₹18.00 per share. The minimum lot size is 8000, requiring an investment of at least ₹144000.00.
The Net Avenue Technologies Limited shares are expected to be listed on 12 Dec, 2023, subject to regulatory approvals and final allotment.
You can track your Net Avenue Technologies Limited application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Net Avenue Technologies Limited will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.