Net Avenue Technologies IPO: Check out lot size, minimum investment amount

Net Avenue Technologies IPO opened for subscription on November 30, 2023 and will close on December 4, 2023.

The issue opened for subscription on November 30, 2023 and will close on December 4, 2023. The price band of the IPO has been fixed at Rs 16 to Rs 18 per share, at the face value of Re 1 per share. The total size of the issue is 5,696,000 shares (aggregating up to Rs 10.25 crore).

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.

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Investors can bid for a minimum of 8000 shares and in multiples thereof. The minimum amount of investment required by retail investors is Rs 144,000. The minimum lot size investment for HNI is 2 lots (16,000 shares) amounting to Rs 288,000.

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).

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.

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 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.

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}