Net Avenue Technologies (NSE SME)
November 30, 2023 – December 4, 2023
| Price | ₹16 - ₹18 |
| Premium | ₹24 |
|---|---|
| Lot size | 8000 |
| Allotment | Dec 5, 2023 |
| Listing | Dec 8, 2023 |
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Subscription
Last updated on 04-Dec-2023 17:01:02
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 1080000 | 66944000 | 61.99 |
| NIB | 816000 | 503136000 | 616.59 |
| RETAIL | 1896000 | 1368312000 | 721.68 |
| Total | 3792000 | 1938392000 | 511.18 |
| Retail Apps | 171039 | © IPO Premium | |
About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 8000 | 144000 | 237 |
| HNI | 2 | 16000 | 288000 | 102 |
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 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
| Issue Size | 5,700,000 shares (aggregating up to ₹10.26 Cr) |
| Fresh Issue | 5,700,000 shares (aggregating up to ₹10.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 15,758,078 |
| Share holding post issue | 21,458,078 |
| Market Maker portion | 288,000 shares |
Net Avenue Technologies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Company Financials
Net Avenue Technologies Limited Financial Information (Restated Consolidated)
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.
| Period | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 1,419.90 | 1,295.26 | 769.85 |
| Revenue | 3,451.26 | 3,276.16 | 1,447.54 |
| Profit | 176.40 | 261.51 | 23.11 |
| Net Worth | 233.54 | 42.57 | -228.37 |
| Reserves | 211.41 | 20.44 | -250.50 |
| Borrowing | 276.06 | 84.24 | 191.07 |
| Amount in ₹ Lakhs | |||
Strength
Weakness
Lead Manager(s)
Address
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