Net Avenue Technologies IPO GMP, REVIEW, PRICE, AND MORE 2023

Net Avenue Technologies  IPO description – Net Avenue Technologies   India Limited is coming up with its Initial public offering. The IPO will be open for subscription on November 30, 2023

 

Net Avenue Technologies  IPO – Details

 

IPO Open Date 30 November 2023
IPO Close Date 04 December 2023
Issue Type Book Built Issue IPO
Issue Size 57,00,000 Shares Worth ₹10.26 Crore

Fresh Issue: 57,00,000 Shares Worth ₹10.26 Crore

Face Value ₹1 per equity share
IPO Price ₹16 – ₹18
Market Lot 8000 Shares
Minimum Order 8000 Shares (1 Lot)
Listing At NSE SME
Register Bigshare Services Pvt Ltd
Retail Shares Offered 35%
QIB Shares Offered 50%
NII (HNI) Shares Offered 15%

 

 

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Net Avenue Technologies  IPO – Date Schedule

 

IPO Opening Date 30 November 2023
IPO Closing Date 04 December 2023
Finalization of Basis of Allotment 07 December 2023
Refunds Initiation 08 December 2023
Transfer of shares to demat accounts 11 December 2023
Listing Date of IPO 12 December 2023

 

Net Avenue Technologies  IPO – About Company 

 

Net Avenue Technologies Limited, previously known as Net Avenue Inc. is engaged in online digital direct-to-consumer business for Indian Ethnic wear and accessories. The product range includes Indian ethnic wear and accessories for women, men, teens and kids.

Net Avenue Technologies started out as a gifting portal – chennaibazaar.com, one of the first Indian gifting portals, offering gifting solutions to Indians living abroad. The company subsequently diversified its offerings and launched cbazaar.com and ethnovog.com providing Indian ethnic clothes and jewellery.

  • Cbazaar is a global Indian Ethnic Fashion brand specializing in Direct-to-Consumer Online Retail. Its primary markets include the United States, the UK, and Canada.
  • Ethnovog is an online apparel store offering size-inclusive and budget-friendly fashion choices for women, teens, and kids.

Net Avenue Technologies primarily caters to South Asian countries. Other than that the company’s clientele includes customers from countries like the United States, United Kingdom, Australia, and Canada. The company’s distributing partners include Myntra, Nykaa, Ajio, and so on.

The company’s product portfolio includes Lehenga Choli, Salwar Kameez, Gowns, Kurtas, Sherwani, Kurta Sets, Kids wear, and Accessories. In 2008 the company launched its own luxury brand – RaiR, a high-end designer Indian clothing.

Net Avenue Technologies’ Cbazaar.com was rated as one of the best online shops in the United States in 2020 and one of the fastest-growing brands in the United States in 2022.

 

 

 

Net Avenue Technologies IPO GMP- review, Price, Allotment 2023
Net Avenue Technologies IPO GMP- review, Price, Allotment 2023

Net Avenue Technologies  IPO – Industry Overview 

 

The B2C E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 8.68% during 2023-27. According to a recent report by Redseer, India’s e-B2B market is projected to reach a GMV of US$ 100 billion by 2030. According to Grant Thornton, e-commerce in India is expected to be worth US$ 188 billion by 2025.

With a turnover of US$ 50 billion in 2020, India became the eighth-largest market for e-commerce, trailing France, and a position ahead of Canada. Propelled by rising smartphone penetration, the launch of 4G network and increasing consumer wealth, the Indian E-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion in 2017. After China and the US, India had the third-largest online shopper base of 150 million in FY21 and is expected to be 350 million by FY26.

India is the world’s second-largest producer of textiles and garments. It is also the fifth-largest exporter of textiles spanning apparel, home and technical products. The textiles and apparel industry contribute 2.3% to the country’s GDP, 13% to industrial production and 12% to exports. Around 45 million people are working in the textile business, including 3.5 million people who work on handlooms. The Indian textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach US$ 190 billion by 2025- 26. The Indian apparel market stood at US$ 40 billion in 2020 and is expected to reach US$ 135 billion by 2025. 

India enjoys a comparative advantage in terms of skilled manpower and in cost of production relative to other major textile producers. During April- November in FY23, the total exports of textiles stood at US$ 23.1 billion. India’s textile and apparel exports (including handicrafts) stood at US$ 44.4 billion in FY22, a 41% increase YoY. Exports of readymade garments including cotton accessories stood at US$ 16.2 billion in FY23. India’s ready-made garment (RMG) exports are likely to surpass US$ 30 billion by 2027, growing at a CAGR of 12-13%.

Net Avenue Technologies  IPO – Financial Performance

 

FY 2022 FY 2023 Q1 FY 2024
Revenue 31.23 33.44 7.60
Expenses 30.05 32.76 7.41
Net income 2.62 1.76 0.94

Figures in INR Crores

 

Net Avenue Technologies  IPO – Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS 0.24 2.77 1.87
PE ratio 8.56 – 9.63
RONW (%) (10.12) 614.28 75.53
NAV (19.03) 3.55 19.46
ROCE (%) 21.64 827.85 48.27
EBITDA (%) 0.89 9.80 6.30
Debt/Equity (0.71) 4.55 1.26

 

Net Avenue Technologies  IPO – Prospectus

 

 

Object Of The Issue

 

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

 

Net Avenue Technologies   IPO GMP Today

 

Date IPO GMP Kostak Subject to Sauda
Coming soon

 

Net Avenue Technologies  IPO – Allotment Status

 

Net Avenue Technologies   IPO allotment status will be available on the Bigshare Services’ Website. Click on this link to get allotment status.

Net Avenue Technologies  IPO – Lots Size & Price

 

Application Lots Shares Amount ( Cut-Off)
Retail (Min) 1 8000 1,44,000
Retail (Max) 1 8000 1,44,000
HNI (Min) 2 16000 2,88,000

2023-10-13 (4)

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