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. The product range includes Indian ethnic wear and accessories for women, men, teens and kids.
Net Avenue Technologies started out as a gifting portal – chennaibazaar.com, one of the first Indian gifting portals, offering gifting solutions to Indians living abroad. The company subsequently diversified its offerings and launched cbazaar.com and ethnovog.com providing Indian ethnic clothes and jewellery.
- Cbazaar is a global Indian Ethnic Fashion brand specializing in Direct-to-Consumer Online Retail. Its primary markets include the United States, the UK, and Canada.
- Ethnovog is an online apparel store offering size-inclusive and budget-friendly fashion choices for women, teens, and kids.
Net Avenue Technologies primarily caters to South Asian countries. Other than that the company’s clientele includes customers from countries like the United States, United Kingdom, Australia, and Canada. The company’s distributing partners include Myntra, Nykaa, Ajio, and so on.
The company’s product portfolio includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008 the company launched its own luxury brand – RaiR, a high-end designer Indian clothing.
Net Avenue Technologies’ Cbazaar.com was rated as one of the best online shops in the United States in 2020 and one of the fastest-growing brands in the United States in 2022.
Net Avenue Technologies IPO – Details
| IPO Opening Date | 30 November 2023 |
| IPO Closing Date | 04 December 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 57,00,000 Shares Worth ₹10.26 Crore Fresh Issue: 57,00,000 Shares Worth ₹10.26 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹16 – ₹18 |
| Market Lot | 8000 Shares |
| Min Order | 8000 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Net Avenue Technologies IPO – Date Schedule
| IPO Open Date | 30 November 2023 |
| IPO Close Date | 04 December 2023 |
| Basis of Allotment | 07 December 2023 |
| Initiation of Refund | 08 December 2023 |
| Credit of Shares to Demat Account | 11 December 2023 |
| IPO Listing Date | 12 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Dec 04, 2023 |
Net Avenue Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 8000 | 1,44,000 |
| Retail (Maximum) | 1 | 8000 | 1,44,000 |
| HNI (Minimum) | 2 | 16000 | 2,88,000 |
Company Promoters
- Mr. Rajesh Nahar
- Mr. Ritesh Katariya
Object Of The Issue
- Customer Acquisition – Marketing and Awareness.
- Funding Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 14.47 | 14.50 | 0.23 | 1.91 |
| 31 March 2022 | 32.76 | 30.04 | 2.61 | 0.84 |
| 31 March 2023 | 34.51 | 32.75 | 1.76 | 2.76 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 8.57 |
| EPS (Rs) | 2.1 |
| RoNW | 75.53% |
Net Avenue Technologies IPO Promoter Holding
| Pre Issue Share Holding | 45.31% |
| Post Issue Share Holding | – |
Net Avenue Technologies IPO Prospectus
- Net Avenue Technologies IPO DRHP
- Net Avenue Technologies IPO RHP
Company Contact Information
| Net Avenue Technologies Limited New No. 16, Old No. 13, 1st Floor Prithvi Avenue, Alwarpet Chennai – 600018 Phone: +91-044-42789289 Email: investor@natl.in Website: https://www.natl.in/home.html |
Net Avenue Technologies IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Net Avenue Technologies IPO Lead Manager(s)
| 1. Shreni Shares Limited |
Net Avenue Technologies IPO FAQs
| What is Net Avenue Technologies IPO? Net Avenue Technologies IPO is a SME IPO. The issue is priced at ₹16 – ₹18 per equity share. The IPO is to be listed on NSE SME. |
| When Net Avenue Technologies IPO will open? The IPO is to open on 30 November 2023 for QIB – 50%, NII – 15% and Retail – 35% Investors. |
| How to Net Avenue Technologies IPO? You can apply Net Avenue Technologies IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Net Avenue Technologies IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Net Avenue Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Net Avenue Technologies IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Net Avenue Technologies”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Net Avenue Technologies IPO Size? Net Avenue Technologies IPO size is ₹10.26 crores. |
| What is Net Avenue Technologies IPO Price Band? Net Avenue Technologies IPO Price Band is ₹16 – ₹18. |
| What is Net Avenue Technologies IPO Minimum and Maximum Lot Size? The minimum bid is 8000 Shares with ₹1,44,000 amount while the maximum bid is 8000 shares with ₹1,44,000. |
| What is the Net Avenue Technologies IPO Allotment Date? Net Avenue Technologies IPO allotment date is 07 December 2023. |
| What is the Net Avenue Technologies IPO Listing Date? Net Avenue Technologies IPO listing date is 12 December 2023. The IPO is to list on NSE SME. |
