Net Avenue Technologies recently listed its shares on the stock exchange. The company’s shares were listed at a price of Rs 42 with a premium of 133%. The IPO price band for Net Avenue Technologies was set at Rs 16-18, and the shares were allotted to investors at the upper price band of Rs 18. Investors who received IPO shares saw their investment value double on the first day. However, on Friday, December 8, 2023, the share price of Net Avenue Technologies closed at Rs 39.90 with a premium increase of 121.67%. On Monday, December 11, 2023, the share was trading at Rs 37.9 with a decrease of 5.01%.
After the listing, there was a slight decrease in the IPO shares of Net Avenue Technologies. Investors were encouraged to book profits after a strong listing. The share closed at Rs 39.90, a 5% decrease compared to the listing price. The IPO of Net Avenue Technologies was open for investment from November 30 to December 4, 2023, with a size of Rs 10.25 crore. Before the IPO, the promoters held a 45.31% stake in the company’s share capital, which decreased to 33.28% after the IPO. Net Avenue Technologies will use the funds raised from the IPO to meet customer acquisition and working capital requirements. The IPO of Net Avenue Technologies was oversubscribed by 511.21 times. The retail investors quota in the IPO was oversubscribed by 721.89 times, while the non-institutional investors quota was oversubscribed by 616.25 times. Qualified institutional buyers subscribed to the reserved quota by 61.99 times. Retail investors were only able to purchase one lot in this IPO, with each lot containing 8,000 shares.
★Net Avenue Technologies company’s shares were recently listed on the stock exchange.
★The share price of Net Avenue Technologies company listed at a price of 42 rupees with a premium of 133%.
★The IPO share price band for Net Avenue Technologies company was set at 16-18 rupees.
★The company’s shares were allocated to investors at a price band above 18 rupees.
★Investors who were allotted IPO stocks saw their investment value double on the first day.
★On Friday, December 8, 2023, Net Avenue Technologies’ shares closed at 39.90 rupees with a premium increase of 121.67%.
★On Monday, December 11, 2023, the share price was trading at 37.9 rupees with a decrease of 5.01%.
★There was a slight decrease in Net Avenue Technologies’ IPO share price after listing.
★Investors were encouraged to book profits after a strong listing.
★Net Avenue Technologies’ share closed at 39.90 rupees, a 5% decrease compared to the listing price.
★Net Avenue Technologies’ IPO was open for investment from November 30 to December 4, 2023.
★The size of the company’s IPO was 10.25 crore rupees.
★Before the IPO, the company’s promoters held 45.31% of the share capital.
★After the IPO, this percentage decreased to 33.28%.
★Net Avenue Technologies will use the funds raised from its IPO for customer acquisition and working capital requirements.
★The company’s IPO was oversubscribed by 511.21 times.
★The reserved quota for retail investors in the IPO was oversubscribed by 721.89 times.
★The non-institutional investor quota was oversubscribed by 616.25 times.
★The qualified institutional buyers’ quota was oversubscribed by 61.99 times.
★Retail investors were only able to purchase one lot in this IPO, which consisted of 8,000 shares.
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