Latest News

Net Avenue Technologies IPO: Check GMP Today, Know How To Check Allotment Status – News18


Net Avenue Technologies IPO: Check allotment status, GMP today.

Unlisted shares of Net Avenue Technologies are currently trading Rs 18 higher in the grey market, which is a 100 per cent listing gain from the public issue

Net Avenue Technologies IPO: The initial public offering of Net Avenue Technologies, which received a blockbuster response from investors with over 511 times subscription between November 30 and December 4, is likely to be listed on the NSE SME on December 7, as its allotment has been finalised.

The 10.25-crore SME IPO received a whopping 511 times subscription, receiving bids for 1,93,81,04,000 shares as against 37,92,000 shares on offer.

The category meant for non-institutional investors received an overwhelming 616.24 times subscription, while the quota for retail individual investors (RIIs) got subscribed a whopping 721.68 times. The portion for qualified institutional buyers (QIBs) was subscribed 61.99 times.

The price band of the Rs 10.25-crore Net Avenue Technologies SME IPO was fixed at Rs 16-18 a share.

Net Avenue Technologies IPO GMP Today

According to market observers, unlisted shares of Net Avenue Technologies were trading Rs 18 higher in the grey market as compared with its issue price. The Rs 18 grey market premium or GMP means the grey market is expecting a 100 per cent listing gain from the public issue, which means doubling the investors’ wealth on the listing day. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Net Avenue Technologies IPO: How to Check Allotment Status

Step 1: Visit https://ipo.bigshareonline.com/IPO_Status.html

Step 2: Select the company ‘Net Avenue Technologies Ltd’

Step 3: In ‘Selection Type’, choose one option from ‘PAN Number’, ‘Beneficiary ID’ and ‘Application Number’.

Step 4: Provide relevant details of the option chosen in Step 3.

Step 5: Enter Captcha and hit ‘Search’ button.

You will now get the status of your IPO allotment.

Net Avenue Technologies IPO Details

The IPO comprised a fresh issue of 37,92,000 equity shares for public subscription with a face value of Rs 1 each. The company fixed the price band at Rs 16-18 per equity share for the IPO.

For investors, the minimum lot size to apply for the IPO was 8,000 shares. The minimum amount of investment required by retail investors was Rs 1,44,000. The minimum lot size investment for HNI was 2 lots (16,000 shares) amounting to Rs 2,88,000.

The proceeds from the issue will be utilised towards customer acquisition, marketing and awareness, funding working capital requirements, general corporate purpose, and issue expenses.

Shreni Shares Limited is the book-running lead manager of the Net Avenue Technologies IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Net Avenue Technologies IPO is Shreni Shares.

The company’s revenue in FY23 stood at Rs 34.51 crore, while the profit after tax was Rs 1.76 crore.



Source link


Discover more from Divya Bharat 🇮🇳

Subscribe to get the latest posts sent to your email.