The Net Avenue Technologies IPO started on November 30, 2023, and ended on December 4, 2023. Shares were allocated on December 7, 2023, and refund processes began on December 8, 2023. On December 11, 2023, the shares were credited to investors demat accounts. Net Avenue Technologies was officially listed on the stock exchange on December 12, 2023.
During the IPO, Net Avenue Technologies offered shares at a price range of ₹16 to ₹18 per share, and the lot size was 8000 shares. The total issue size was ₹10.25 crores, with ₹10.25 crores from new shares. The IPO was listed on the NSE SME.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Net Avenue Technologies IPO Subscription Update Video
Net Avenue Technologies IPO Subscription Status
The Net Avenue Technologies IPO on December 1, 2023 was subscribed 54.68 times, with the retail category being subscribed 89.25 times, the NII (Non-Institutional Investor) category being subscribed 46.17 times, the QIB (Qualified-Institutional Buyers) category being subscribed 0.41 times.
| Category | Subscription |
| QIB | 0.41x |
| NII | 46.17x |
| Retail | 89.25x |
| Total | 54.68x |
Net Avenue Technologies IPO Basic Details
| Company Name | Net Avenue Technologies Limited |
| Domain of Company | Online Clothing Company |
| Net Avenue Technologies IPO GMP Today | ₹3 |
| Net Avenue Technologies IPO Listing Gain | 16.67% |
| Net Avenue Technologies IPO Open Date | November 30, 2023 |
| Net Avenue Technologies IPO Close Date | December 4, 2023 |
| Net Avenue Technologies IPO Allotment Date | December 7, 2023 |
| Net Avenue Technologies IPO Listing Date | December 12, 2023 |
| Face Value | ₹10 per share |
| Price | ₹16 to ₹18 per share |
| Lot Size | 8000 Shares |
| Issue Size | 5,696,000 shares of ₹10 (aggregating up to ₹10.25 Cr) |
| Fresh Issue | 5,696,000 shares of ₹10 (aggregating up to ₹10.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Company Promoters | Mr. Rajesh Nahar and Mr. Ritesh Katariya |
About Net Avenue Technologies Limited
Founded in 1998, Net Avenue Technologies Limited, formerly known as Net Avenue Inc., is in the business of selling Indian Ethnic wear and accessories online.
Initially, the company started as a gifting portal called chennaibazaar.com, catering to Indians living abroad. Over time, Net Avenue Technologies expanded its offerings and introduced cbazaar.com and ethnovog.com, focusing on Indian ethnic clothing and jewelry.
Cbazaar stands out as a global Indian Ethnic Fashion brand with a specialization in Direct-to-Consumer Online Retail. Its main markets are the United States, the UK, and Canada. On the other hand, Ethnovog serves as an online apparel store that provides size-inclusive and budget-friendly fashion choices for women, teens, and kids.
Net Avenue Technologies primarily serves South Asian countries but also has customers from the United States, United Kingdom, Australia, and Canada. The company collaborates with distribution partners like Myntra, Nykaa, Ajio, and more.
The company’s product lineup includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008, Net Avenue Technologies introduced its luxury brand – RaiR, offering high-end designer Indian clothing.
Cbazaar.com, operated by Net Avenue Technologies, earned recognition as one of the best online shops in the United States in 2020 and emerged as one of the fastest-growing brands in the United States in 2022.
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Net Avenue Technologies IPO FAQs
What is the start and end date of Net Avenue Technologies IPO Subscription?
The Net Avenue Technologies IPO started on November 30, 2023, and ended on December 4, 2023.
When does Net Avenue Technologies IPO Subscription open?
The Net Avenue Technologies IPO open on November 30, 2023.
When does Net Avenue Technologies IPO Subscription close?
The Net Avenue Technologies IPO Close on December 4, 2023.
What is the allotment date of Net Avenue Technologies IPO?
The allotment date for Net Avenue Technologies IPO is December 7, 2023.
When is the initial refund date of Net Avenue Technologies IPO?
The initial Refund date for Net Avenue Technologies IPO is December 8, 2023.
When were the shares credited to investors demat accounts for the Net Avenue Technologies IPO?
The shares for the Net Avenue Technologies IPO were credited to investors demat accounts on December 11, 2023.
When will Net Avenue Technologies IPO be listed on the stock market?
Net Avenue Technologies IPO stock market will be listed on December 12, 2023 at 10 am.
What was the price range of the Net Avenue Technologies IPO shares?
The Net Avenue Technologies IPO shares were offered at a price range of ₹16 to ₹18 per share.
What was the lot size for the Net Avenue Technologies IPO shares?
The lot size for the Net Avenue Technologies IPO shares was 8000 shares.
What was the total issue size of the Net Avenue Technologies IPO?
The total issue size of the Net Avenue Technologies IPO was ₹10.25 crores.
How were the shares allocated among different types of investors for the Net Avenue Technologies IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Net Avenue Technologies IPO listed?
The Net Avenue Technologies IPO was listed on the NSE SME.
What is the Net Avenue Technologies IPO Subscription Status?
Net Avenue Technologies IPO is subscribed Times.
