Net Avenue Technologies was incorporated on June 7, 2001. The company is engaged in an online digital direct-to-consumer business, specializing in Indian ethnic wear and accessories. Additionally, it has a presence in international cross-border e-commerce, offering direct-to-consumer services for its products. Its product range encompasses Indian ethnic wear and accessories for women, men, teens, and kids
| Bidding Dates |
|---|
| 30 Nov 2023 - 04 Dec 2023 |
| Subscription |
|---|
| 475.2x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,28,000 | 1 | 1 | 8000 | 5.7 M | ₹16 - ₹18 | 73.45 % | ₹91.1 M - ₹102.5 M | RHP DOC |
Net Avenue Tech IPO SUBSCRIPTION STATUS
04 Dec '23Net Avenue Tech IPO overall subscription rate was 475.2 times the total available shares
Net Avenue Tech IPO retail subscription rate was 958.48 times in the retail segment
Net Avenue Tech IPO non-institutional investor subscription rate was 822.14 times in the non-institutional investor category
Net Avenue Tech IPO Qualified Institutional Bidder subscription rate was 32.82 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
04 Dec 2023 (Day 3) | 958.48x | 822.14x | 32.82x |
01 Dec 2023 (Day 2) | 116.61x | 61.62x | 0.22x |
30 Nov 2023 (Day 1) | 29.55x | 14.05x | 0x |
Net Avenue Tech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY24 | 9.4 | 76.0 | -2.6 | -2.7 | 11.4% |
| FY23 | 17.6 | 334.4 | -27.7 | -31.1 | 6.3% |
| FY22 | 26.2 | 312.3 | 31.7 | 29.5 | 9.8% |
| FY21 | 2.3 | 138.0 | -7.0 | -7.2 | 0.9% |
Net Avenue Tech IPO SUBSCRIPTION STATUS DETAILS
Net Avenue Tech had 5.7 M shares on offer
Net Avenue Tech IPO offer price was in the range ₹16 - ₹18
Net Avenue Tech IPO minimum Investment was ₹128000
Net Avenue Tech IPO issue size was ₹ 91.1 M - ₹ 102.5 M
Net Avenue Tech had a minimum lot size of 8000 Shares per application
Net Avenue Tech NUMBER OF SHARES ON OFFER
Net Avenue Tech IPO IMPORTANT DATES
| Issue Open Date | 30 Nov 2023 |
| Issue close Date | 04 Dec 2023 |
| Allotment Date | 05 Dec 2023 |
| Refund Date | 06 Dec 2023 |
| Demat Account Credit Date | 07 Dec 2023 |
| Listing Date | 08 Dec 2023 |
| Listing on Exchange(s) | NSE |
| Net Avenue Tech Allotment Status | Exchange |
Net Avenue Tech IPO subscription opened on 30 Nov 2023, and closed on 04 Dec 2023
IPO allotment for Net Avenue Tech was finalized on Tuesday, 05 Dec 2023
IPO listing for Net Avenue Tech was on NSE on Friday, 08 Dec 2023
Net Avenue Tech IPO LISTING GAINS
| Issue Price (adjusted) | 18.0 |
| Listing Open Price | 42.0 |
| Listing Close Price | 39.9 |
| Listing Gain% | 133.3% |
| Current Gain% | -69.4% |
Net Avenue Tech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Avenue Technologies Ltd. | 5.5 | 11.8 | -2.8 | 0 | 0.4 | -67.4 | -31 | 27.7 | 3.1 | -4.2 | -163.4 | -1.9 | 163.4 |
| Eternal Ltd. | 315 | 303986 | 702 | 15.7 | 4.5 | 1.2 | 0.9 | 55760 | 161.5 | 366 | -30.6 | 0.4 | 44.8 |
| FSN E-Commerce Ventures Ltd. | 332 | 95081.1 | 371.2 | 1.7 | 8.9 | 13.9 | 4.3 | 10055.1 | 26.1 | 199.4 | 201.8 | 0.9 | 221.1 |
| Meesho Ltd. | 191.4 | 88472 | -73.7 | 6.4 | -31 | -17.2 | 13099.1 | 32.3 | -1357.7 | 65.6 | -2.6 | ||
| Info Edge (India) Ltd. | 1225.3 | 79451 | 54.8 | 1.1 | 24.2 | 3.8 | 3 | 4343.3 | 10.7 | 1449.8 | 50.7 | 22.4 | 50.7 |
| Swiggy Ltd. | 280.8 | 77495.8 | -20.7 | 16.9 | 3.1 | -22.7 | -16.4 | 23561 | 50.8 | -4154 | -33.3 | -13.6 | -1.2 |
Net Avenue Tech INFORMATION ON IPO ISSUE
About Net Avenue Tech
Net Avenue Technologies was incorporated on June 7, 2001. The company is engaged in an online digital direct-to-consumer business, specializing in Indian ethnic wear and accessories. Additionally, it has a presence in international cross-border e-commerce, offering direct-to-consumer services for its products. Its product range encompasses Indian ethnic wear and accessories for women, men, teens, and kids
Object of the Issue
- Customer acquisition - marketing & awareness
- Funding working capital requirement
- General corporate purpose
- To meet the issue expenses
Net Avenue Tech - PROMOTERS
| Name |
|---|
| Rajesh Nahar |
| Ritesh Katariya |
Net Avenue Tech Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
Net Avenue Tech Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Net Avenue Tech Strengths
Diverse product range
The company offers a wide range of premium Indian ethnic fashion to South Asians worldwide through its e-commerce platform. These offerings cater to various cultural and traditional preferences, including wedding clothing, festive attire, party wear, and related accessories
Technology-driven
With a robust IT division, the company has developed and managed its entire digital platform in-house. This includes the website, order processing, seller panel, design creation, content management, and production coordination
Sustainable fashion advocate
The company has ingrained sustainability into its culture and processes, positioning itself as a sustainable fashion brand. This includes adopting the concept of just-in-time manufacturing, coupled with customised stitching
Net Avenue Tech Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company and its group company. Any adverse decision in these proceedings may have a material adverse effect on the business, results of operations, and financial condition
Highly competitive industry
The company operates in a highly competitive industry, and its failure to compete effectively could negatively impact the success of its business and/or affect its profit margins
Seasonal business
The seasonality of the company's business impacts its quarterly results, placing an increased strain on operations
IPO FAQs
The promoters of the company are Rajesh Nahar and Ritesh Katariya.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 16.0 - 18.0.
The IPO application opens on Nov 30, 2023 and closes on Dec 04, 2023.
The minimum lot size for the IPO is 8000. The maximum lot size for the IPO is 8000.
For all category investors, the minimum application amount for this IPO is Rs. 128,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Dec 05, 2023.
The refund will be credited to your account on Dec 06, 2023.
The allotted shares will be credited to your demat on Dec 07, 2023.
Net Avenue Technologies Ltd.’s shares listed on the stock exchanges on Dec 08, 2023.