Net Avenue Technologies GMP offering will begin from November 30, 2023 and closes on December 4, 2023.
Net Avenue Technologies is a direct-to-consumer internet retailer of Indian ethnic apparel and accessories. For its products, the company also has a presence in international cross-border e-commerce, direct-to-consumer. Through its websites, cbazaar.com and ethnovog.com, it sells Indian ethnic clothes and accessories for ladies, men, teens, and children, primarily to the South Asian diaspora.
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Bidding Dates
30 Nov – 4 Dec 2023
Price Range
₹16 to ₹18 per share
Face Value
₹1 per share
GMP
₹24
Net Avenue Technologies GMP
The Net Avenue Technologies Limited IPO GMP is ₹ [24] .
IPO Overview
Furthermore, Net Avenue Technologies broadens its reach by selling its items on popular e-commerce platforms such as Myntra, Nykaa, and Ajio, among others. Customers from various nations use the direct-to-consumer technique, with the largest markets being the United States, United Kingdom, Australia, and Canada. Net Avenue Technologies’ Cbazaar.com was named one of the finest online stores in the United States in 2020 and one of the fastest-growing brands in the United States in 2022.
The initial public offering (IPO) of Net Avenue Technologies is a book built issue worth Rs 10.25 crores. This IPO consists of a fresh issue of 56.96 lakh shares. The bidding for the Net Avenue Technologies IPO commenced on November 30, 2023, and concluded on December 4, 2023. The allotment of shares for this IPO was finalized on Thursday, December 7, 2023. Subsequently, the shares were listed on the NSE SME on December 8, 2023.
Net Avenue Technologies IPO Details
| Net Avenue Technologies IPO Dates | 30 Nov – 4 Dec 2023 |
| Net Avenue IPO Price | INR 16 – 18 per share |
| Fresh issue | 57,00,000 shares (INR 9.12 – 10.26 crore) |
| Offer For Sale | Nil |
| Total IPO size | 57,00,000 shares (INR 9.12 – 10.26 crore) |
| Minimum bid (lot size) | 8,000 shares (INR 144,000) |
| Face Value | INR 1 per share |
| Retail Allocation | 35% |
| Listing On | NSE SME |
Net Avenue Technologies Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 13.80 | 31.23 | 33.44 |
| Expenses | 14.51 | 30.05 | 32.76 |
| Net income | 0.23 | 2.62 | 1.76 |
Net Avenue Technologies IPO Dates & Listing Performance
| IPO Opening Date | 30 November 2023 |
| IPO Closing Date | 4 December 2023 |
| Finalization of Basis of Allotment | 7 December 2023 |
| Initiation of refunds | 8 December 2023 |
| Transfer of shares to demat accounts | 11 December 2023 |
| IPO Listing Date | 12 December 2023 |
| Opening Price on NSE SME | Coming soon |
| Closing Price on NSE SME | Coming soon |
Company Profile
Net Avenue Technologies Limited, previously known as Net Avenue Inc, was established in 1998. This renowned company specializes in providing a wide range of Indian ethnic clothing and accessories through its online platforms, cbazaar.com and ethnovog.com. Their extensive collection includes Lehenga, Saree, Salwar Kameez, Indo-Western Wear, Kurta Sets, Kurtis, Jewellery, Sherwani, Kurta Pyjama, Formal and Informal Suits, and Accessories for women, men, teens, and kids. With their diverse offerings, Net Avenue Technologies caters to the fashion needs of individuals from all age groups.
Registrar Info
| Name | BIGSHARE SERVICES PRIVATE LIMITED |
| Phone number | +91 22 6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | https://www.bigshareonline.com |
Contact Details
| Name | Net Avenue Technologies LIMITED |
| Phone number | +91-044-42789289 |
| Email ID | info@natl.in |
| Website | https://www.natl.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
