Net Avenue Technologies IPO Date, Review, Price, Allotment Details

Net Avenue Technologies IPO operates in the online digital direct-to-consumer business, specializing in Indian ethnic wear and accessories. The company also has a presence in international cross-border e-commerce direct-to-consumer for its products. Their product range encompasses Indian ethnic wear and accessories designed for women, men, teens, and kids.

Originally incorporated on June 07, 2001, as “Net Avenue Technologies Private Limited” under the Companies Act, 1956, with the Registrar of Companies, Tamil Nadu, the company underwent a conversion to a Public Limited Company. The name was changed from “Net Avenue Technologies Private Limited” to “Net Avenue Technologies Limited,” as per a fresh certificate of incorporation issued on September 22, 2023, by the Registrar of Companies, Chennai.

Net Avenue Technologies primarily focuses on selling Indian ethnic wear and accessories, catering primarily to the South Asian Diaspora. They reach this segment through their website and mobile applications. Additionally, the company extends its market presence by distributing products through various prominent e-commerce platforms, including Myntra, Nykaa, Ajio, and others.

Net Avenue Technologies IPO Timeline

Net Avenue Technologies IPO opens on November 30, 2023, and closes on December 4, 2023.

IPO Open DateThursday, November 30, 2023
IPO Close DateMonday, December 4, 2023
Basis of AllotmentThursday, December 7, 2023
Initiation of RefundsFriday, December 8, 2023
Credit of Shares to DematMonday, December 11, 2023
Listing DateTuesday, December 12, 2023
Cut-off time for UPI mandate confirmation5 PM on December 4, 2023

Net Avenue Technologies IPO 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.

ApplicationLotsSharesAmount
Retail (Min)18000₹144,000
Retail (Max)18000₹144,000
HNI (Min)216,000₹288,000

About the Issue

Net Avenue Technologies IPO is a book-built issue with a size of Rs 10.25 crores, entirely comprising a fresh issue of 56.96 lakh shares.

The subscription for the Net Avenue Technologies IPO will be open from November 30, 2023, to December 4, 2023. The allotment is anticipated to be finalized on Thursday, December 7, 2023. The IPO will list on NSE SME, with the tentative listing date set for Tuesday, December 12, 2023.

The price band for the Net Avenue Technologies IPO is fixed at ₹16 to ₹18 per share. The minimum lot size for an application is 8000 shares, requiring a minimum investment of ₹144,000 for retail investors. 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 serves as the registrar for the issue. The market maker for Net Avenue Technologies IPO is Shreni Shares.

Objects of the Issue:

  • Customer Acquisition – Marketing and Awareness.
  • Funding Working Capital Requirement.
  • General Corporate Purpose.
  • To Meet the Issue Expenses.

Net Avenue Technologies Limited Financials
(Rs in Lakhs)

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 Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,317.921,419.901,295.26769.85
Revenue783.893,451.263,276.161,447.54
Profit After Tax94.39176.40261.5123.11
Net Worth328.70233.5442.57-228.37
Reserves and Surplus306.57211.4120.44-250.50
Total Borrowing292.69276.0684.24191.07

Net Avenue Technologies IPO Registrar

Bigshare Services Pvt Ltd
Phone: +91-22-6273 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Net Avenue Technologies IPO Allotment Status

Check Net Avenue Technologies IPO allotment status on Bigshare website URL. Click Here

Net Avenue Technologies IPO Lead Managers

  • Shreni Shares Limited

Company Address

Net Avenue Technologies Limited
New No. 16, Old No. 13,
1st Floor Prithvi Avenue,
Alwarpet Chennai – 600018
Phone: +91-044-42789289
Email: investor@natl.in
Website: https://www.natl.in/home.html

Net Avenue Technologies IPO FAQs

What is Net Avenue Technologies IPO?

Net Avenue Technologies is an NSE SME IPO. They are going to raise ₹10.26 Crores via IPO. The issue is priced at ₹16 to ₹18 per equity share. The IPO is to be listed on NSE.

When Net Avenue Technologies IPO will open?

The IPO is to open on November 30, 2023 for QIB, NII, and Retail Investors.

What is Net Avenue Technologies IPO Investors Portion?

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

How to Apply the Net Avenue Technologies IPO through Zerodha?

Steps to apply in Net Avenue Technologies IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the ‘Net Avenue Technologies ‘ row and click the ‘Bid’ button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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