Net Avenue Technologies IPO subscribed 487 times on final day

Net Avenue Technologies IPO 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 with 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).

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.

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

The IPO was subscribed 487.01 times on the final day. It received bids for 1,84,67,60,000 shares as against 37,92,000 shares on offer.

The category meant for non-institutional investors received an overwhelming 613.56 times subscription. The quota for retail individual investors (RIIs) was subscribed 674.99 times whereas the portion for qualified institutional buyers (QIBs) was booked 61.99 times.

It 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 The IPO. Bigshare Services Pvt Ltd is the registrar for the issue.

_{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.}