
Emerging SME Services · NSE
Incorporated in 1998, Net Avenue Technologies Limited (formerly Net Avenue Inc.) is a digital direct-to-consumer brand focused on Indian ethnic wear and accessories, catering primarily to global South Asian customers across countries like the US, UK, Australia, and Canada. The company started with chennaibazaar.com as a gifting portal for NRIs and later expanded into ethnic wear through cbazaar.com and ethnovog.com, offering size-inclusive and budget-friendly fashion. Its products include lehengas, salwar kameez, kurtas, sherwanis, kidswear, and accessories, along with a luxury designer label “RaiR.” The company also partners with leading platforms like Myntra, Nykaa, and Ajio, and its Cbazaar brand has been recognized as one of the best online shops in the US (2020) and among the fastest-growing brands in 2022.
Price Band
₹16 – ₹18
Issue Size
₹10.26 Cr
Lot Size
8000 shares
GMP
+133.3%
Est. Listing
₹42
at current GMP
Subscribed
511.18x
overall
Open
30 Nov 2023
Close
4 Dec 2023
Allotment
5 Dec 2023
Refund
6 Dec 2023
Demat Credit
7 Dec 2023
Listing
8 Dec 2023
Designated Registrar: Bigshare Services Private Limited
Allotment Date
5 Dec 2023
Basis finalization
Refunds Initiate
6 Dec 2023
Mandate release
Demat Credit
7 Dec 2023
Shares in demat
Listing Debut
8 Dec 2023
Trading begins
Net Avenue Technologies Limited is bringing an initial public offering (IPO) in the Emerging SME Services sector with an aggregate issue size of ₹10.26 Crores. The shares are offered at a price band of ₹16 to ₹18 per equity share on NSE. Currently, grey market participants and retail investors are watching the bidding trend, premium movement, and anchor book demand with keen interest.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 8000 shares (approx. ₹1,44,000 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Bigshare Services Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2023-12-07, while un-allotted funds or UPI block mandates will be released on 2023-12-06.
Allotment records are updated in batches. If the status is not yet available, please wait a few hours until the basis of allotment is fully finalized.
Since funds are blocked under ASBA/UPI, the bank will automatically release the blocked hold on your funds upon receipt of revocation instructions from the sponsor bank.