IPO : Net Avenue Technologies Limited
Net Avenue Technologies Limited IPO
Net Avenue Inc. started in 1998, out as a partnership firm between two aspiring individuals with the launch of one of the first Indian gifting portals, chennaibazaar.com. After considerable success offering gifting solutions to Indians living abroad, the company diversified its offerings beyond gifts to include Indian designer clothes and jewellery. The launch of cbazaar.com and subsequently homeIndia.com, saw the company evolve as one of the pioneers in the Indian Fashion e-tail space.
Thank you for reading this post, don't forget to subscribe!Boasting of more than a decade’s experience, Cbazaar and Homeindia have emerged as trusted brands offering the latest and best in Indian Fashion in the international market. Today, besides Cbazaar and Homeindia, the company has launched multiple e-stores featuring an exhaustive and covetable range of Designer Indian clothes and accessories.
| SYMBOL | NATL |
| ISSUE TYPE | Book Built Issue IPO |
| ISSUE OPENS ON | Thursday, November 30, 2023 |
| ISSUE CLOSES ON | Monday, December 4, 2023 |
| ISSUE PRICE | ₹16 to ₹18 per share |
| ISSUE SIZE | Up to Rs10.25 Crores |
| FACE VALUE | Rs.1 per share |
Net Avenue Technologies IPO is a book built issue of Rs 10.25 crores. The issue is entirely a fresh issue of 56.96 lakh shares.
Net Avenue Technologies IPO bidding opened for subscription on November 30, 2023 and will close on December 4, 2023. 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 tentative listing date fixed as Tuesday, December 12, 2023.
| MINIMUM BID | 8000 shares |
| MINIMUM AMOUNT | Rs.144,000 |
| MAXIMUM BID | 8000 shares |
| MAXIMUM AMOUNT | Rs.144,000 |
| PROMOTER HOLDING | 33.28% (Post-issue) |
| LISTING DATE | Tuesday, December 12, 2023 |
| LISTING AT | NSE-SME |
Net Avenue Technologies IPO price band is set at ₹16 to ₹18 per share. The minimum lot size for an application is 8000 Shares. 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.
Objects of the Issue (Net Avenue Technologies IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Customer Acquisition – Marketing and Awareness.
- Funding Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
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