Net Avenue Technologies Ltd IPO Timeline
Net Avenue Technologies Ltd IPO opens on 30-Nov-2023, and closes on 04-Dec-2023. The Net Avenue Technologies Ltd IPO bid date is from 30-Nov-2023 to 04-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Net Avenue Technologies Ltd IPO Opening Date
|Net Avenue Technologies Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|Net Avenue Technologies Ltd IPO Listing Date
Net Avenue Technologies Ltd IPO Lot Size
Net Avenue Technologies Ltd IPO lot size is 8000 shares. A retail-individual investor can apply for up to 1 lots (8000 shares or 144000).
Net Avenue Technologies Ltd IPO Details
|Net Avenue Technologies Ltd IPO Date
|30-Nov-2023 to 04-Dec-2023
|Net Avenue Technologies Ltd IPO Face Value
|Shares of ₹1 per share
|Net Avenue Technologies Ltd IPO Price
|₹16 to ₹18 per share
|Net Avenue Technologies Ltd IPO Lot Size
|Shares of ₹1 (aggregating up to ₹10.25 Cr)
|Shares of ₹1 (aggregating up to ₹10.25 Cr)
|Offer for Sale
|Book Building - SME
|NSE - SME
|QIB Shares Offered
|Retail Shares Offered
|NII (HNI) Shares Offered
|Rajesh Nahar, Ritesh Katariya.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Customer Acquisition - Marketing & Awareness
- 2 Funding Working Capital Requirements
- 3 General Corporate Expenses
Net Avenue Technologies Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Diverse Product Range.
- Customer-Centric Growth Approaches.
- Sustainable Fashion Advocate (Just-In-Time).
- Data-Driven Body Sizing for Optimal Fit.
- Experienced Promoters.
- There are outstanding legal proceedings involving the Company and Group Company. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Its business depends on the growth of online commerce industry in India & Abroad and its ability to effectively respond to changing user behaviour on digital platforms.
- Any harm to its brands or reputation may adversely affect its business, financial condition, cash flows and results of operations.
- If the company is or its brand relationships and sellers fail to identify and effectively respond to changing consumer preferences and spending patterns or changing beauty and fashion trends in a timely manner, the demand for products could decrease, causing its revenue and results of operations to decline.
- If the company fail to acquire new consumers or fail to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability.
- If the company fail to retain existing consumers or fail to maintain AOV levels, its may not be able to sustain its revenue base and margins, which would have a material adverse effect on its business and results of operations.
- If the company fail to retain its relationships with brands, manufacturers, distributors and sellers, or attract new relationships, its business, financial condition, cash flows and operations will be adversely affected.
- The company operate in a highly competitive industry and its failure to compete effectively could have a negative impact on the success of its business and/or impact its margins.
- The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
- Its technology infrastructure and the technology infrastructure of the company third-party providers are susceptible to security breaches and cyber-attacks. This could potentially result in damage to its operations, employees, consumers, third-party providers, its reputation and adversely affect the company financial condition, cash flows and results of operations.
- Its business depends on its ability to maintain and scale its technology. Any interruptions or delays in service on its mobile applications or websites or any undetected errors or design faults could result in limited capacity, reduced demand, processing delays, and loss of consumers, suppliers or sellers.
- The successful operation of its business depends on the performance, reliability and security of network and mobile infrastructure, third-party data centre hosting facilities, and other third-party providers.
- Any international expansion efforts may expose it to complex management, legal, tax and economic risks, which could adversely affect its business, financial condition, cash flows and results of operations.
- There have been some instances of clerical errors and non-compliances with certain provision of statutory regulations applicable to it. If the authorities impose monetary penalties on the company or take certain punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely affected.
- If the company is unable to continue to innovate or if its fail to adapt to changes in its industry, the company's business, financial condition, cash flows and results of operations would be adversely affected.
- Its subject to foreign currency exchange rate fluctuations which could have a material and adverse effect on its results of operations and financial conditions.
- The seasonality of its business affects its quarterly results and places an increased strain on the company operations.
- Failure to deal effectively with fraudulent activities on its mobile applications or websites would increase the company fraud losses and harm its business and could severely diminish seller and consumer confidence in and use of its services.
- Based on certain matters reported noted by its auditors in audit report of the Company which may impact the financial position of the company.
- Its relies on third-party couriers to provide reliable, timely and satisfactory delivery of orders for consumers.
- The company does not have any documents evidencing certain information included in the Director biographies for some of its Directors under the section "Its Management" of this Draft Red Herring Prospectus.
- The company is subject to payment-related risks, including risks associated with cash on delivery and payment processing risks.
- Some of its historical and secretarial records are not traceable. Non-availability of these records exposes it to the risk of penalties that may be imposed by the competent regulatory authority in future.
- High merchandise returns or interruption in its shipping operations could negatively impact the company's business.
- Its current insurance policies may be insufficient to cover all future costs and losses the incurrence or magnitude of which are unforeseen or unpredictable and could result in an adverse effect on its business operations and results of operations.
- The Company operates under several statutory and regulatory permits, licenses and approvals. Its failure to obtain and/or renew any approvals or licenses in future may have an adverse impact on its business operations.
- The property used by the Company for the purpose of its operations is not owned by it. Any termination of the relevant rent agreement in connection with such property or its failure to renew the same could adversely affect its operations.
- Its top ten suppliers contribute majority of its purchases. Any loss of business with one or more of them may adversely affect its business operations and profitability.
- The company may not be able to adapt to changing market trends and customer requirements in the fashion market in a timely manner, or at all.
- The company requires certain approvals and licenses in the ordinary course of business and the failure to successfully obtain such registrations would adversely affect its operations, results of operations and financial condition.
- The company has entered into and may enter into related party transactions in the future also.
- The company has a substantial amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of its financing arrangements, which restricts its ability to conduct its business and operations in the manner the company desire.
- Its inability to effectively manage its growth or to successfully implement its business plan and growth strategy could have an effect on its business, results of operations and financial condition.
- The unsecured loan availed by the Company from Director, Promoter group other parties may be recalled at any given point of time.
- Any deficiency in its products could make its Company liable for client claims, which in turn could affect the Company's results of operations.
- The company does not have any long-term agreement or contract of supply of raw materials and consequently are exposed to price and supply fluctuations for its raw materials.
- Its may not be able to prevent unauthorised use of trademarks obtained/ applied for by third parties, which may lead to the dilution of its goodwill.
- Its inability to manage inventory in an effective manner could affect its business.
- Any failure to comply with financial and other restrictive covenants imposed on it under its financing agreements may affect the company operational flexibility, business, results of operations and prospects.
- Its face competition in the company's business from organized and unorganized players, which may adversely affect its business operation and financial condition.
- Certain relevant copies of educational qualification of one of its Independent Director and SMP is not traceable.
- Its operating results could be adversely affected by weakening of economic conditions due to lock- down in all parts of India and other parts of world & other situation due to pandemic Covid-19.
- The company depends on third parties for a major portion of its transportation needs. Any disruptions may affect its operations, business and financial condition.
- Employee misconduct including misuse of confidential data and failure to maintain confidentiality of information could harm its and is difficult to detect and deter.
- Its marketing and advertising campaigns may not be successful in increasing the popularity of its products and offerings. If its marketing initiatives are not effective, this may adversely affect its business and results of operations.
- There may be potential conflicts of interest if its Promoters or Directors are involved in any business activities that compete with or are in the same line of activity as its business operations.
- Its Estimates has not been appraised by any Bank or Financial Institution/third party. Any significant deviation in the Object could adversely impact its operations and sustainability in absence of any independent monitoring agency.
- Its success is dependent on its Promoter, management team and skilled manpower. The company's inability to attract and retain key personnel or the loss of services of its Promoter or Managing Director and Whole Time Director may have an adverse effect on its business prospects.
- The present promoters of the Company are first generation entrepreneurs.
- If there is a change in policies related to tax, duties or other such levies applicable to it, it may affect its results of operations.
- Its ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
- Any customer dispute regarding its performance or workmanship may amount in delay or withholding of payment to it.
- Its Promoter and Executive Directors hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Its subject to the risk of failure of, or a material weakness in, its internal control systems.
- Major fraud, lapses of internal control or system failures could adversely impact the company's business.
- The future operating results are difficult to predict and may fluctuate or adversely vary from the past performance.
- The company has not independently verified certain data in this Prospectus.
- The company is susceptible to risks relating to unionization of its workers employed by it.
- Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
- The company has not identified any alternate source of raising the working capital mentioned as its 'objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- The Company's management will have flexibility in utilizing the Net Proceeds from the Issue. The deployment of the Net Proceeds from the Issue is not subject to any monitoring by any independent agency.
- Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [*]% of the Issue Proceed. As on date the company has not identified the use of such funds.
- The company ha in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- The average cost of acquisition of Equity Shares by our Promoter could be lower than the Issue Price.
- Its Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Changing laws, rules and regulations and legal uncertainties, including adverse application of tax laws, may adversely affect its business, financial condition and results of operations.
- The Issue Price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- A third party could be prevented from acquiring control of the Company because of anti-takeover provisions under Indian law.
- The requirements of being a listed company may strain its resources and distract management.
- Enhancing Personalization.
- Optimizing Costs and Supply Chain.
- Leveraging Expertise and Relationships.
- Global Marketplace Presence.
- Swift Shipping.
- Category Expansion.
Net Avenue Technologies Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
Net Avenue Technologies Ltd IPO Subscription Status (Bidding Detail)
The Net Avenue Technologies Ltd IPO is subscribed - times on Dec 04, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
Net Avenue Technologies Ltd IPO Prospectus
Net Avenue Technologies Ltd IPO Listing Date
|08 Dec 23
|NSE - SME
Net Avenue Technologies Ltd IPO Registrar
Bigshare Services Pvt Ltd
Phone: 022 - 6263 8200
Net Avenue Technologies Ltd IPO Lead Manager(s)
- Shreni Shares Ltd
FAQs on Net Avenue Technologies Ltd IPO
Net Avenue Technologies Ltd IPO, which opens for subscription from 30-Nov-2023 to 04-Dec-2023 has an issue size of ₹10.25 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Net Avenue Technologies Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Net Avenue Technologies Ltd IPO Opens for subscription from 30-Nov-2023 to 04-Dec-2023.
The lot size of Net Avenue Technologies Ltd is 8000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹144000 and ₹144000 respectively.
Allotment date for Net Avenue Technologies Ltd is 07-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 08-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 11-Dec-2023.
The registrar for Net Avenue Technologies Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.
The shares of Net Avenue Technologies Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).