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Net Avenue Technologies IPO is a book build issue of ₹10.25 crores. The issue is entirely a fresh issue of 0.57 crore shares of ₹10.25 crore.
Net Avenue Technologies IPO bidding started from Nov 30, 2023 and ended on Dec 4, 2023. The allotment for Net Avenue Technologies IPO was finalized on Dec 7, 2023. The shares got listed on NSE SME on Dec 8, 2023.
Net Avenue Technologies IPO price band is set at ₹18.00 per share . The lot size for an application is 8,000. The minimum amount of investment required by an retail is ₹1,28,000 (8000 shares). The minimum lot size investment for HNI is 2 lots (16,000 shares), amounting to ₹2,88,000.
Shreni Shares Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Shreni Shares Ltd..
Refer to Net Avenue Technologies IPO RHP for detailed Information.
| IPO Date | November 30, 2023 to December 4, 2023 |
| Listing Date | December 8, 2023 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹16 to ₹18 per share |
| Issue Price Final | ₹18 per share |
| Lot Size | 8,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 56,96,000 shares (aggregating up to ₹10.25 Cr) |
| Reserved for Market Maker | 2,88,000 shares Shreni Shares Ltd. (aggregating up to ₹0.5184 Cr) |
| Net Offered to Public | 54,08,000 shares (aggregating up to ₹9.73 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,57,58,078 shares |
| Share Holding Post Issue | 2,14,54,078 shares |
Net Avenue Technologies IPO offers total 56,96,000 shares. Out of which 26,96,000 (47.33%) allocated to QIB, 10,80,000 (18.96%) allocated to QIB, 8,16,000 (14.33%) allocated to NII, 18,96,000 (33.29%) allocated to RII and 16,16,000 (28.37%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,88,000 (5.06%) |
| QIB Shares Offered | 26,96,000 (47.33%) |
| − Anchor Investor Shares Offered | 16,16,000 (28.37%) |
| − QIB (Ex. Anchor) Shares Offered | 10,80,000 (18.96%) |
| NII (HNI) Shares Offered | 8,16,000 (14.33%) |
| Retail Shares Offered | 18,96,000 (33.29%) |
| Total Shares Offered | 56,96,000 (100.00%) |
Net Avenue Technologies IPO raises ₹2.91 crore from anchor investors. Net Avenue Technologies IPO Anchor bid date is November 29, 2023. Net Avenue Technologies IPO Anchor Investors list
| Bid Date | November 29, 2023 |
| Shares Offered | 16,16,000 |
| Anchor Portion Size (In Cr.) | 2.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 6, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 6, 2024 |
Net Avenue Technologies IPO opens on November 30, 2023, and closes on December 4, 2023.
| IPO Open Date | Thu, Nov 30, 2023 |
| IPO Close Date | Mon, Dec 4, 2023 |
| Tentative Allotment | Thu, Dec 7, 2023 |
| Initiation of Refunds | Fri, Dec 8, 2023 |
| Credit of Shares to Demat | Mon, Dec 11, 2023 |
| Tentative Listing Date | Fri, Dec 8, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Dec 4, 2023 |
Investors can bid for a minimum of 8,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8,000 | ₹1,44,000 |
| Retail (Max) | 1 | 8,000 | ₹1,44,000 |
| HNI (Min) | 2 | 16,000 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 1998, Net Avenue Technologies Limited, formerly known as Net Avenue Inc, offers Indian ethnic clothing and accessories through its online platforms cbazaar.com and ethnovog.com.
Net Avenue Technologies offers Lehenga, Saree, Salwar Kameez, Indo-Western Wear, Kurta Sets, Kurtis, Jewellery, Sherwani, Kurta Pyjama, Formal and Informal Suits and Accessories for women, men, teens, and kids.
The company has two online outlets:
Cbazaar.com: Cbazaar offers custom-tailored Indian clothing for women, men, teens, and kids in the United States, the United Kingdom, Canada, and other countries.
Ethnovog: Ethnovog offers affordable clothing for women, teens, and children.
The company also lists third-party products and offers customization options. The company works with international courier services such as DHL, FedEx, and Aramex to ensure timely delivery to customers.
Net Avenue Technologies Limited's revenue increased by 5.34% and profit after tax (PAT) dropped by -32.55% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,317.92 | 1,419.90 | 1,295.26 | 769.85 |
| Total Income | 783.89 | 3,451.26 | 3,276.16 | 1,447.54 |
| Profit After Tax | 94.39 | 176.40 | 261.51 | 23.11 |
| Net Worth | 328.70 | 233.54 | 42.57 | -228.37 |
| Reserves and Surplus | 306.57 | 211.41 | 20.44 | -250.50 |
| Total Borrowing | 292.69 | 276.06 | 84.24 | 191.07 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Net Avenue Technologies IPO is ₹38.62 Cr.
| KPI | Values |
|---|---|
| ROE | 127.77% |
| ROCE | 5.28% |
| Debt/Equity | 1.18 |
| RoNW | 75.53% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is D2C digital marketing platform for Indian ethnic wear and accessories. It has posted growth in its top lines for the last three fiscals, but reported inconsistency in bottom lines. Based on FY24 super annual earnings, the issue appears fully priced. Tiny paid up equity capital post-IPO indicates longer gestation for migration to the mainboard. Well informed investors may park moderate fund for the medium to long-term rewards. Read detail review...
| Listing Date | December 8, 2023 |
| BSE Script Code | |
| NSE Symbol | CBAZAAR |
| ISIN | INE518X01015 |
| Final Issue Price | ₹18 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹18.00 |
| Open | ₹42.00 |
| Low | ₹39.90 |
| High | ₹42.00 |
| Last Trade | ₹39.90 |
Net Avenue Technologies Ltd.
New No. 16, Old No. 13,
1st Floor Prithvi Avenue,
Alwarpet,
Chennai, Tamil Nadu, 600018
Phone: +91-044-42789289
Email: investor@natl.in
Website: https://www.natl.in/home.html
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Net Avenue Technologies IPO is a SME IPO of 56,96,000 equity shares of the face value of ₹1 aggregating up to ₹10.25 Crores. The issue is priced at ₹18 per share. The minimum order quantity is 8000.
The IPO opens on November 30, 2023, and closes on December 4, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Net Avenue Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Net Avenue Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Net Avenue Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Net Avenue Technologies IPO opens on November 30, 2023 and closes on December 4, 2023.
Net Avenue Technologies IPO lot size is 8000, and the minimum amount required for application is ₹1,44,000.
You can apply in Net Avenue Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Net Avenue Technologies IPO will be done on Thursday, December 7, 2023, and the allotted shares will be credited to your demat account by Monday, December 11, 2023. Check the Net Avenue Technologies IPO allotment status.
The Net Avenue Technologies IPO listing date is on Friday, December 8, 2023.
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