Net Avenue Technologies IPO GMP Today ( Grey Market )

The Net Avenue Technologies IPO commenced on November 30, 2023, and concluded on December 4, 2023. The allotment of shares took place on December 7, 2023, and the initiation of refunds began on December 8, 2023. The shares were credited to the demat accounts of investors on December 11, 2023. Finally, the listing of Net Avenue Technologies on the stock exchange occurred on December 12, 2023.

The Net Avenue Technologies IPO was priced at ₹16 to ₹18 per share, with a lot size of 8000 shares. The total issue size was ₹10.25 crores, comprising a fresh issue of ₹10.25 crores. The IPO was listed on the NSE SME.

In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 50% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 35% of the shares.

Net Avenue Technologies IPO Basic Details

Net Avenue Technologies IPO GMP Today:

Net Avenue Technologies IPO Details:

Established in 1998, Net Avenue Technologies Limited, formerly known as Net Avenue Inc., is all about online shopping for traditional Indian clothing and accessories.

It all began with chennaibazaar.com, a unique gifting portal, one of the first of its kind, connecting with Indians abroad. Then, the company expanded its horizons, introducing cbazaar.com and ethnovog.com, where you can find a wide range of Indian ethnic clothes and jewelry.

Cbazaar is a go-to brand for Indian Ethnic Fashion, selling directly to customers online. They focus on markets like the United States, the UK, and Canada. On the other hand, Ethnovog is an online clothing store offering affordable and size-inclusive fashion choices for women, teens, and kids.

Net Avenue Technologies primarily serves South Asian countries but also has customers from places like the United States, United Kingdom, Australia, and Canada. They partner with well-known platforms such as Myntra, Nykaa, Ajio, and more.

Their product lineup includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008, they stepped into the luxury market with their high-end designer Indian clothing brand, RaiR.

Notably, Cbazaar.com received recognition as one of the best online shops in the United States in 2020 and was acknowledged as one of the fastest-growing brands in the United States in 2022. It’s been quite a journey for Net Avenue Technologies in just over two decades!

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