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SME IPO of Net Avenue Tech subscribed over 500x

Economic Times  

The initial public offer (IPO) of Net Avenue Technologies was subscribed over 500 times. The offer is completely a fresh equity issue of up to 56.96 lakh equity shares. The company plans to raise INR 10.25 crore through the IPO. The 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. Net Avenue Technologies , operates Cbazaar.com, an online portal focused on selling Indian ethnic wear worldwide.