About Net Avenue Technologies Limited
Net Avenue Technologies Limited is launching its IPO. The offer opens for subscription on November 30, 2023, and will close on December 4, 2023.
Disclaimer: This stock will trade with a lot size of 8000 shares in the SME segment on listing.
What does Net Avenue Technologies Limited do?
Net Avenue Technologies Limited was formerly known as “Net Avenue Technologies Private Limited.” It is an online retailer of Indian ethnic clothing and accessories for men, women, children, and teens. With an emphasis on the South Asian Diaspora, they cater to both local and foreign markets. They have physical locations in Chennai and Surat, India.
Their core business is conducted through websites and mobile apps, along with distribution partnerships with platforms like Myntra, Nykaa, and Ajio. The company emphasizes iterative innovation to enhance consumer satisfaction and optimize purchasing behavior by integrating across multiple touchpoints for a personalized shopping experience.
The company’s brands, such as Cbazaar.com, have received recognition in the United States for being among the best online shops and fastest-growing brands in recent years.
They specialize in selling various Indian ethnic wear items and accessories, offering Cash on Delivery for domestic customers in India and prepaid options for international orders. They have a subsidiary in the United States responsible for collecting international payments and transferring them weekly.
Their product range includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and accessories for women, men, teens, and kids, tailored to meet diverse customer needs.
Schedule/Timeline of Net Avenue Technologies Limited IPO
| Issue Period | 30th November to 4th December 2023 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | December 7, 2023 |
| Initiation of Refunds | December 8, 2023 |
| Credit of Shares | December 11, 2023 |
| Date of Listing | December 12, 2023 |
| Mandate end date | December 19, 2023 |
| Anchor Investors Lock-In End Date (50% of the investment) | January 3, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | March 8, 2024 |
How to apply to the Net Avenue Technologies Limited IPO?
You can apply for the Net Avenue Technologies Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Net Avenue Technologies Limited IPO?
You can check the allotment status for the Net Avenue Technologies Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.