Net Avenue Technologies IPO is a book built issue of Rs 10.26 crores. The issue is entirely a fresh issue of 57 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.
Refer to Net Avenue Technologies IPO DRHP for detailed information.
Net Avenue Technologies IPO Details
| IPO Date | November 30, 2023 to December 4, 2023 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | ₹16 to ₹18 per share |
| Lot Size | 8000 Shares |
| Total Issue Size | 5,700,000 shares (aggregating up to ₹10.26 Cr) |
| Fresh Issue | 5,700,000 shares (aggregating up to ₹10.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 15,758,078 |
| Share holding post issue | 21,458,078 |
| Market Maker portion | 288,000 shares |
Net Avenue Technologies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Net Avenue Technologies IPO Timeline (Tentative Schedule)
Net Avenue Technologies IPO opens on November 30, 2023, and closes on December 4, 2023.
| IPO Open Date | Thursday, November 30, 2023 |
| IPO Close Date | Monday, December 4, 2023 |
| Basis of Allotment | Thursday, December 7, 2023 |
| Initiation of Refunds | Friday, December 8, 2023 |
| Credit of Shares to Demat | Monday, December 11, 2023 |
| Listing Date | Tuesday, December 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 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.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8000 | ₹144,000 |
| Retail (Max) | 1 | 8000 | ₹144,000 |
| HNI (Min) | 2 | 16,000 | ₹288,000 |
| Lot Size Calculator |
Net Avenue Technologies IPO Promoter Holding
Mr. Rajesh Nahar and Mr. Ritesh Katariya are the promoters of the company.
| Share Holding Pre Issue | 45.31% |
| Share Holding Post Issue |
About Net Avenue Technologies Limited
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.
Net Avenue Technologies Limited Financial Information (Restated Consolidated)
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 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,419.90 | 1,295.26 | 769.85 |
| Revenue | 3,451.26 | 3,276.16 | 1,447.54 |
| Profit After Tax | 176.40 | 261.51 | 23.11 |
| Net Worth | 233.54 | 42.57 | -228.37 |
| Reserves and Surplus | 211.41 | 20.44 | -250.50 |
| Total Borrowing | 276.06 | 84.24 | 191.07 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 8.57 |
| EPS (Rs) | 2.1 |
| RoNW | 75.53% |
Check Net Avenue Technologies IPO Peer Comparison here.
Objects of the Issue (Net Avenue Technologies IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Net Avenue Technologies Limited Contact Details
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 Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html