Net Avenue Technologies IPO Allotment Finalised: How To Check Allotment Status

Net Avenue Technologies recently concluded its Initial Public Offering (IPO), a funding process where the public can buy shares of the company. The IPO was open for subscription from November 30, to December 4. On the last day, there was significant demand as investors eagerly subscribed to a total of 511.10 times the shares offered, indicating a strong interest in the company. The IPO, worth Rs 10.25 crores, consisted of 56.96 lakh new shares, and the price per share ranged from Rs 16 to Rs 18. The minimum investment for retail investors was Rs 144,000.

As per the latest update, the allotment of shares has now been finalised.

• Visit the official website of Bigshare Services Pvt Ltd: https://ipo.bigshareonline.com/ipo_status.html

• Select any one server to check your IPO Allotment Status.

• Choose "Net Avenue Technologies Limited" from the list of companies.

• In the Selection Type dropdown, choose either Application number, Beneficiary Id, or PAN ID.

• Enter the required information, which could be your application number, PAN (Permanent Account Number), or Beneficiary ID.

• Complete the 'captcha' to verify that you are not a robot.

• Finally, click the "Search" button to check your allotment status.

Shares of Net Avenue Technologies Limited are set to be listed on NSE SME on Tuesday, December 12.

* This is a tentative date and is subject to change

• IPO Open Date: Thursday, November 30

• IPO Close Date: Monday, December 4

• Basis of Allotment: Thursday, December 7

• Initiation of Refunds: Friday, December 8

• Credit of Shares to Demat: Monday, December 11

• Listing Date: Tuesday, December 12

• Total issue size: 5,696,000 shares (aggregating up to ₹10.25 Cr)

• Face value: Rs 1 per share

• Fresh issue size: 5,696,000 shares (aggregating up to ₹10.25 Cr)

• Shares for fresh issue: 5,696,000 shares

• Price band: Rs16 to Rs 18 per share

• Lot size: 8000 Shares

Established in 1998, Net Avenue Technologies Ltd., formerly Net Avenue Inc., specializes in online retail for Indian Ethnic wear and accessories. Originally a gifting portal, it expanded to include cbazaar.com and ethnovog.com, offering Indian ethnic clothes and jewelry. Cbazaar focuses on global markets like the United States, the UK, and Canada, while Ethnovog provides budget-friendly fashion for women, teens, and kids.

Serving South Asian countries and international clients, including the US, UK, Australia, and Canada, the company partners with platforms like Myntra and Nykaa. Their product range spans Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008, Net Avenue introduced the luxury brand RaiR. Cbazaar.com was acclaimed as one of the best online shops in the United States in 2020 and recognized as one of the fastest-growing brands in 2022.