Net Avenue Technologies Limited

Company Profile
Company Name Net Avenue Technologies Limited
Open Date 30-11-2023
Close Date 04-12-2023
Exchange NSE SME
Lot Size 8000 shares
Issue Price ₹ 16 to ₹ 18 per share
Issue Size 56,96,000 shares
Application Amount ₹ 1,44,000
Recommendation Avoid
Net Avenue Technologies Ltd was originally incorporated in the year 2001 and has its registered office in Chennai, India. The Company is engaged in online digital direct-to-consumer business for Indian Ethnic wear and accessories. The company started out as a gifting portal named, one of the first Indian gifting portals, offering gifting solutions to Indians living abroad.The company’s product range includes Indian ethnic wear and accessories for women, men, teens and kids.As of 31st August 2023, the Company had 85 employees on its payroll.
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Summary of Financials (All financials in lakhs)

For the Period Ended Mar-21 Mar-22 Mar-23 Jun-23
Total Assets 769.84 1,295.26 1,419.91 1,317.93
Net Assets -228.37 42.57 233.54 328.70
Total Borrowings 191.07 84.24 276.06 292.69
Total Revenue 1,447.54 3,276.16 3,451.26 783.89
Profit After Tax 23.12 261.51 176.40 94.40

Tentative Timeline

Opening Date 30-11-2023
Closing Date 04-12-2023
Basis of Allotment 07-12-2023
Initiation of Refunds 08-12-2023
Credit of Shares to Demat 11-12-2023
Listing Date 12-12-2023

Objects of the Issue

Customer Acquisition - Marketing and Awareness.
Funding Working Capital Requirement.
General Corporate Purpose.
To Meet the Issue Expenses.

Contact Information

Registered Office Net Avenue Technologies Limited- New No. 16, Old No. 13, 1st Floor Prithvi Avenue, Alwarpet ,Chennai - 600018
Phone 91-044-42789289

Registrar Details

Name Bigshare Services Pvt Ltd
Phone 91-22-6263 8200

IPO Reservation

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

Shareholding Pattern

Share Holding Pre Issue (Promoters) 45.31%
Share Holding Post Issue (Promoters) 33.28%

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