Strong Response to Net Avenue Technologies IPO with 54 Times Subscription

Good news for people who invested in Net Avenue Technologies IPO! The company’s IPO is doing well, and it’s getting a positive response from investors.

On the second day, the subscription reached more than 54 times the offered shares. The IPO, which started on December 1, has a price range of Rs 16 to Rs 18 per share.

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Investors have the opportunity to invest in Net Avenue Technologies IPO until December 4.

The SME IPO received 14 times subscription on the first day and a remarkable 54 times on the second day.

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Notably, on December 2, the retail section saw a subscription of 89.41 times.

The company created 8,000 shares for the IPO, requiring investors to place bets of at least Rs 1,44,000.

In the retail section, each investor can place bets on a maximum of one lot. Net Avenue Technologies IPO raised Rs 2.91 crore through anchor investors.

In the gray market, the IPO is trading at a premium of Rs 7, according to a top share broker’s report.

This suggests that the company might be listed in the stock market at a 38 percent premium.

The IPO size is Rs 10.25 crore, with 56.96 lakh shares issued through a fresh issue. Investors will find out on December 7 whether they have been allotted shares or not.

The company’s possible listing on NSE is slated for December 12, 2023.

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