Net Avenue Technologies Limited IPO is set to launch on 30 November, 2023. The company initiated its business operations in 1998. The company is involved in the business of online digital D2C business for Indian accessories and Ethnic Wear. The company initially started as a gifting portal and then diversified its business into Indian Ethnic Wear and Indian Jewellery. The primary business of the company takes place in United Kingdom, USA and Canada. Its business also runs in the South Asian Markets and its distribution is done through multiple platforms like Myntra, AJIO, Nykaa etc. The product portfolio of the company includes Salwar Kameez, Lehenga Choli, Kurtas, Gowns, Kurta Sets, Sherwani, Accessories and Kids Wear. It also owns a luxury brand named RaiR.
Net Avenue Technologies Limited IPO DETAILS
Net Avenue Technologies Limited IPO is set to launch on 30 November, 2023. The subscription timeline extends till 4 December, 2023. The size for the IPO is 10.25 Crore Rs. Shares issued through fresh issue mode are worth 10.25 Crore Rs. No shares are issued through offer for sale mode. The lot size is 8000 shares and the price is 16 Rs to 18 Rs per share. The company is going to get listed at NSE SME. The face value per share is Re.1 and this is a Book Built issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Net Avenue Technologies Limited IPO
| IPO OPENING DATE | 30 November, 2023 |
| CLOSING DATE FOR IPO | 4 December, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 1 Re. per share |
| IPO price band | 16 Rs to 18 Rs per share |
| LOT SIZE | 8000 shares |
| MINIMUM ORDER QUANTITY | 8000 shares |
| ISSUE SIZE | 10.25 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 10.25 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 12 December, 2023 |
Net Avenue Technologies Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 30 November, 2023 |
| CLOSING DATE FOR IPO | 4 December, 2023 |
| IPO ALLOTMENT DATE | 7 December, 2023 |
| REFUNDS | 8 December, 2023 |
| DEMAT A/C CREDITED ON | 11 December, 2023 |
| IPO LISTING DATE | 12 December, 2023 |
Net Avenue Technologies Limited IPO begins for subscription from 30 November, 2023. The IPO subscription would continue till 4 December, 2023. The allotment status for the shareholders who applied would come on 7 December, 2023. The refunds for the ones who did not get allotment would be initiated on 8 December, 2023. The DEMAT accounts of shareholders would be credited on 11 December, 2023. The listing of the company would be completed on 12 December, 2023.
Net Avenue Technologies Limited IPO : Lead Managers
The lead managers are :
- Shreni Shares Limited
The minimum lot size for the company is decided at 8000 shares. This holding accounts to 144000 Rs.. The maximum lot size is decided at 16000 shares (HNI). This amounts to 288000 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 8000 shares | 144000 Rs. |
| Maximum | 16000 shares | 288000 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| Asset | 769 | 1295 | 1419 |
| Revenue | 1447 | 3276 | 3451 |
| PAT | 23 | 261 | 176 |
Net Avenue Technologies Limited had an asset base of 769 Lakh Rs in 2021. This increased to 1295 Lakh Rs in the year 2022 and then became 1419 Lakh Rs in the year 2023. The revenue of the firm was 1447 Lakh Rs in the year 2021 which increased to 3276 Lakh Rs in 2022 and 3451 Lakh Rs in 2023. The profit of the firm was 23 Lakh Rs in 2021, 261 Lakh Rs in 2022 and 176 Lakh Rs in 2023.
PROS
- The company initially started as a gifting portal and then diversified its business into Indian Ethnic Wear and Indian Jewellery.
- The primary business of the company takes place in United Kingdom, USA and Canada. Its business also runs in the South Asian Markets and its distribution is done through multiple platforms like Myntra, AJIO, Nykaa etc.
- The product portfolio of the company includes Salwar Kameez, Lehenga Choli, Kurtas, Gowns, Kurta Sets, Sherwani, Accessories and Kids Wear. It also owns a luxury brand named RaiR.
CONS
- The company works in a highly competitive segment.
Net Avenue Technologies Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Net Avenue Technologies Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
