SME IPO: Net Avenue Technologies allotment finalised. Here's how you can check status

Net Avenue Technologies, which has seen the second-highest subscription rate this year, has finalised the share allotment for investors.

On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Here's how you can check the status on BSE:
Step 1: Visit the BSE Website

Step 2: Please select the issue name, that is the company's name in the drop-down list.
Step 3: Enter the application number or PAN number to check the allotment status.

The allotment status can also be checked by visiting the official website of the registrar to the issue which is Bigshare Services in this case.
Step 1: Visit the IPO Allotment Status page on Bigshare Services website
Step 2: Select IPO from the dropdown
Step 3: Put Application No. and enter captcha and 'Submit'.

The IPO of Net Avenue Technologies was subscribed over 500 times. The robust demand was led by retail investors, whose category was subscribed 721 times, while that of non-institutional investors was subscribed 616 times. The part reserved for institutional investors was subscribed 62 times.

The issue was priced in the range of Rs 16-18 apiece. The current GMP is around Rs 16 in the unlisted market, which indicates over 80% debut gains to investors if the trends sustain.

The tentative listing on the NSE SME platform is fixed as December 12.

The offer of Net Avenue Tech is a fresh equity issue of up to 56.96 lakh equity shares. The company plans to raise Rs 10.25 crore through the IPO.

Net proceeds from the issue will be used for customer acquisition, funding working capital requirements, and other general corporate purposes.

The company is engaged in online digital direct-to-consumer business for Indian ethnic wear and accessories. It also has a presence in international cross-border e-commerce direct-to-consumer for its products. The product range includes Indian ethnic wear and accessories for women, men, teens, and kids.

Shreni Shares is acting as the lead manager to the issue and Bigshare Services is the registrar.

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