Net Avenue Technologies is set to launch its initial public offering to raise up to ₹10.25 crores. The issue is a completely fresh issue of 56.96 lakh shares. Net Avenue Technologies IPO will open for subscription on November 30, 2023 and close on December 4, 2023.
Incorporated in 1998, Net Avenue Technologies Limited, formerly known as Net Avenue Inc., is engaged in an online digital direct-to-consumer business for Indian Ethnic apparel and accessories.
Net Avenue Technologies Limited’s revenue increased by 5.34% and profit after tax (PAT) decreased by -32.55% between the financial year ending March 31, 2023 and March 31, 2022.
Net Avenue Technologies IPO details –
Net Avenue Technologies IPO release date: The issue will open for subscription on November 30, 2023 and close on December 4, 2023.
The share price of Net Avenue Technologies IPO. The price band of the IPO was set at ₹16 to ₹18 per share, at the face value of ₹1 per share.
Net Avenue Technologies IPO issue size: The total size of the issue is 5,696,000 shares (aggregating up to ₹10.25 crore).
Net Avenue Technologies IPO target: The company intends to use the net proceeds of the issue to the financing for customer acquisition – marketing and awareness, financial working capital requirement, general corporate purpose and to meet the expenses.
Net Avenue Technologies IPO anchor investors date: The thing will rise around ₹2.91 crore from anchor investors on November 29, 2023.
Net Avenue Technologies IPO book-running managers: 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.
Net Avenue Technologies IPO lot size: Investors can bid for a minimum of 8000 shares and in multiples of them. The minimum amount of investment required from retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (16,000 shares) amounting to ₹288,000.
Net Avenue Technologies IPO Booking: Not more than 50% of the offer is reserved for QIB, not less than 30% reserved for the retail portion and not less than 15% of the offer is reserved for NII (HNI).
Net Avenue Technologies IPO promoter holding company: Rajesh Nahar and Ritesh Katariya are the promoters of the company.
Net Avenue Technologies IPO share allotment date and listing date: 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 a tentative listing set as Tuesday, December 12, 2023.
Net Avenue Technologies IPO GMP today
Net Avenue Technologies IPO GMP today or gray market premium is +3 which means shares are trading at their premium of ₹3 in the gray market, according to investorgain.com.
Considering the upper end of the IPO price range and the current premium in the gray market, the estimated listing price of the Net Avenue Technologies share price was indicated at ₹21 a piece, which is 16% higher than the IPO price of ₹18.
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Updated: 28 Nov 2023, 21:29 IST
(tagsTo Translate)Net Avenue Technologies IPO