Net Avenue Technologies, a company specializing in e-commerce solutions, has received a tremendous response from investors for its IPO. The IPO shares have also performed exceptionally well in the grey market. On the day of listing, the company’s IPO received 54 times higher bidding. Net Avenue Technologies had set a price band of INR 16-18 per share for its IPO. The IPO opened for investment on 1st December 2023 and will close on 4th December 2023.
As an SME company, Net Avenue Technologies’ IPO received 14 times higher subscription on the first day. The next day, the IPO stock received 54 times higher bidding. On 2nd December 2023, the company’s retail quota was oversubscribed by 89.41 times. Under the IPO, there were 8,000 shares in a lot, requiring investors to raise INR 1,44,000 for a considerable purchase. Retail investors can buy a maximum of one lot in this IPO.
Net Avenue Technologies had raised INR 2.91 crores by selling shares to anchor investors. According to experts, the company’s IPO shares are trading at a premium price of INR 7 in the grey market. Therefore, the shares of this company could be listed at a premium of 38%. The size of the company’s IPO is INR 10.25 crores. Net Avenue Technologies will sell 56.96 lakh new shares in the open market under its IPO. The shares of the company will be listed on the stock exchange on 12th December 2023.
★Net Avenue Technologies IPO has received a tremendous response from investors.
★The IPO shares of the company are performing well in the grey market.
★On the next day of the opening, the Net Avenue Technologies IPO received 54 times more bids.
★The company had set a price band of Rs 16-18 for its IPO shares.
★The Net Avenue Technologies IPO was opened for investment on 1st December 2023 and will close on 4th December 2023.
★On the first day, the SME company’s IPO received 14 times more subscriptions.
★On the second day, the IPO stock received 54 times more bids.
★On 2nd December 2023, the company’s retail quota was oversubscribed by 89.41 times.
★The IPO had 8,000 shares in a lot, and investors had to raise Rs 1,44,000 for significant purchases.
★Retail investors can buy a maximum of one lot in this IPO.
★Net Avenue Technologies had raised Rs 2.91 crore by selling shares to anchor investors.
★According to experts, the Net Avenue Technologies IPO shares are trading at a premium price of Rs 7 in the grey market.
★Therefore, the shares of this company may be listed at a premium price of 38%.
★The size of the company’s IPO is Rs 10.25 crore.
★Net Avenue Technologies will sell 56.96 lakh new shares in the open market under its IPO.
★The company’s shares will be listed on the stock exchange on 12th December 2023.
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