Bookbuilding IPO | ₹10 Cr | Listed at NSE SME | Thu, Nov 30, 2023 - Mon, Dec 4, 2023
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 per share. The lot size for an application is 8,000. The minimum amount of investment required by an retail is ₹1,44,000 (8000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Nov 30, 2023
IPO Close
Mon, Dec 4, 2023
Issue Price
₹18 per share
Market Cap (Pre-IPO)
₹38.62 Cr
| IPO Date | 30 Nov to 4 Dec, 2023 |
| Listed on | Fri, Dec 8, 2023 |
| Face Value | ₹1 per share |
| Price Band | ₹16 to ₹18 |
| Issue Price | ₹18 per share |
| Lot Size | 8,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 56,96,000 shares (agg. up to ₹10 Cr) |
| Reserved for Market Maker | 2,88,000 shares Shreni Shares Ltd. (agg. up to ₹0.5184 Cr) |
| Fresh Issue (Ex Market Maker) | 54,08,000 shares (agg. up to ₹10 Cr) |
| Net Offered to Public | 54,08,000 shares (agg. up to ₹10 Cr) |
| Share Holding Pre Issue | 1,57,58,078 shares |
| Share Holding Post Issue | 2,14,54,078 shares |
| NSE Symbol | CBAZAAR |
| ISIN | INE518X01015 |
Net Avenue Technologies IPO comprises a total issue size of 56,96,000 shares. The net offer to the public is 54,08,000 shares, after excluding 2,88,000 shares allotted on a firm basis. Of the Net offer 26,96,000 (49.85%) are allocated to QIB, 8,16,000 (15.09%) allocated to NII 18,96,000 (35.06%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 26,96,000 | 49.85% | 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 | 15.09% | 14.33% |
| Retail Shares Offered | 18,96,000 | 35.06% | 33.29% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,88,000 | 5.06% | |
| Total Shares Offered | 56,96,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 8,000 shares and in multiples thereof.
| 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 |
Net Avenue Technologies IPO raises ₹2.91 crore from anchor investors. Net Avenue Technologies IPO Anchor bid date is November 29, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Nov 29, 2023 |
| Shares Offered | 16,16,000 |
| Anchor Portion (₹ Cr.) | 2.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Jan 6, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Mar 6, 2024 |
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.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 13.18 | 14.20 | 12.95 | 7.70 |
| Total Income | 7.84 | 34.51 | 32.76 | 14.48 |
| Profit After Tax | 0.94 | 1.76 | 2.62 | 0.23 |
| NET Worth | 3.29 | 2.34 | 0.43 | -2.28 |
| Reserves and Surplus | 3.07 | 2.11 | 0.20 | -2.51 |
| Total Borrowing | 2.93 | 2.76 | 0.84 | 1.91 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Customer Acquisition - Marketing & Awareness | 6.99 |
| 2 | Funding Working Capital Requirement | 1.20 |
| 3 | General Corporate Purpose | 0.82 |
| KPI | Jun 30, 2023 | Mar 31, 2023 |
|---|---|---|
| ROE | 33.58 | 127.77% |
| ROCE | 12.42 | 5.28% |
| Debt/Equity | 0.89 | 1.18 |
| RoNW | 28.72 | 75.53% |
| PAT Margin | 10.33% | 5.55% |
| EBITDA Margin | 11.36% | 6.30% |
| Price to Book Value | 0.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.10 | |
| P/E (x) | 8.57 | 10.23 |
| Promoter Holding | 45.31% | 33.28% |
| Market Cap | ₹38.62 Cr. |
The Net Avenue Technologies IPO is subscribed 511.21 times on December 4, 2023 7:29:00 PM (Day 3). The public issue subscribed 721.89 times in the retail category, 61.99 times in the QIB category, and 616.25 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 61.99 | 10,80,000 | 6,69,44,000 |
| NII* | 616.25 | 8,16,000 | 50,28,64,000 |
| Retail | 721.89 | 18,96,000 | 1,36,87,12,000 |
| Total | 511.21 | 37,92,000 | 1,93,85,20,000 |
Total Application : 1,71,089
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission | 0.74 |
| 2 | Brokerage, selling, commission and upload fees | 0.00 |
| 3 | Registrar to the issue | 0.02 |
| 4 | Legal Advisors | 0.01 |
| 5 | Advertising and Marketing expenses | 0.02 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Printing and distribution of issue stationery | 0.01 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, peer review auditors, etc.) | 0.41 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹18.00 |
| Open | ₹42.00 |
| Low | ₹39.90 |
| High | ₹42.00 |
| Last Trade | ₹39.90 |
Lead Manager Reports
Net Avenue Technologies IPO is a SME IPO of 56,96,000 equity shares of the face value of ₹1 aggregating up to ₹10 Crores. The issue is priced at ₹18 per share. The minimum order quantity is 8000.
The IPO opens on Thu, Nov 30, 2023, and closes on Mon, Dec 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 Thu, Nov 30, 2023 and closes on Mon, Dec 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 Mon, Dec 11, 2023. Check the Net Avenue Technologies IPO allotment status.
The Net Avenue Technologies IPO listing date is on Fri, Dec 8, 2023.
