Hello User
Sign in
Hello
Sign Out
Subscribe
Next Story
Business News/ Markets / Stock Markets/  Net Avenue Technologies IPO: From share price to GMP — 10 things to know about upcoming public issue

Net Avenue Technologies IPO: From share price to GMP — 10 things to know about upcoming public issue

  • Net Avenue Technologies IPO will open for subscription on November 30, 2023 and closes on December 4, 2023.

Net Avenue Technologies IPO will open for subscription on November 30, 2023 and closes on December 4, 2023. Photo: iStockphoto

Net Avenue Technologies is all set to launch its initial public offering to raise up to 10.25 crore. The issue is entirely a fresh issue of 56.96 lakh shares. Net Avenue Technologies IPO will open for subscription on November 30, 2023 and closes on December 4, 2023.

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 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.

Net Avenue Technologies IPO details -

Net Avenue Technologies IPO issue date: The issue will open for subscription on November 30, 2023 and will close on December 4, 2023.

Net Avenue Technologies IPO share price: The price band of the IPO has been fixed at 16 to 18 per share, at the face value of 1 per share.

Net Avenue Technologies IPO issue size: The total size of the issue is 5,696,000 shares (aggregating up to 10.25 crore).

Net Avenue Technologies IPO objective: The company intends to utilize the net proceeds from the issue towards the funding for customer acquisition - marketing and awareness, funding working capital requirement, general corporate purpose and to meet the issue expenses.

Net Avenue Technologies IPO anchor investors date: The issue will be raising around 2.91 crore from anchor investors on November 29, 2023.

Net Avenue Technologies IPO book running managers: 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. The market maker for Net Avenue Technologies IPO is Shreni Shares.

Net Avenue Technologies IPO lot size: Investors can bid for a minimum of 8000 shares and in multiples thereof. 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.

Net Avenue Technologies IPO reservation: Not more than 50% of the offer is reserved for QIB, not less than 30% reserved for the retail portion and not less than 15% of the offer is reserved for NII (HNI).

Net Avenue Technologies IPO promoter holding: Rajesh Nahar and Ritesh Katariya are the promoters of the company.

Net Avenue Technologies IPO share allotment date and listing date: 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 a tentative listing date fixed as Tuesday, December 12, 2023.

Net Avenue Technologies IPO GMP today

Net Avenue Technologies IPO GMP today or grey market premium is +3, which means shares are trading at their premium of 3 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Net Avenue Technologies share price was indicated at 21 apiece, which is 16% higher than the IPO price of 18.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Get the latest financial, economic and market news, instantly.