Nova AgriTech IPO Price: ₹39 - ₹41
IPO Date Range: Jan 23, 2024 - Jan 25, 2024
Established in May 2007, Nova AgriTech Limited, based in Hyderabad, specializes in manufacturing agricultural products with a primary focus on improving soil health, plant nutrition, and crop protection. The company works closely with farmers to understand their needs and creates tailored solutions to enhance crop growth.
Utilizing advanced technology, Nova AgriTech manufactures environmentally friendly and nutritious products across diverse categories:
As of January 31, 2023, the company has secured a total of 629 product registrations, categorized into soil health management, plant nutrition, biopesticides, and crop protection. Notable registrations include 7 in soil health management, 168 in plant nutrition, 4 in biopesticides, and 450 in crop protection.
Nova AgriTech boasts a dedicated team of 32 NKSK Coordinators, all equipped with degrees in Agricultural Sciences and employed by the company. The NKSK program, featuring Coordinators, Kisan Mitras, and Kisan Sevaks, ensures personalized engagement with farmers at the grassroots level.
As of January 31, 2023, the company's team comprises 32 NKSK Coordinators with degrees in Agricultural Sciences, ensuring a strong foundation of expertise to provide personalized assistance and guidance through the NKSK program.
| IPO Date | January 23, 2024 to January 25, 2024 |
| Listing Date | Wednesday, January 31, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹39 to ₹41 per share |
| Lot Size | 365 shares |
| Total Issue Size | 35,075,693 shares (aggregating up to ₹143.81 Cr) |
| Fresh Issue | 27,317,073 shares (aggregating up to ₹112.00 Cr) |
| Offer For Sale | 7,758,620 shares of ₹2 (aggregating up to ₹31.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 65,202,740 |
| Share holding post issue | 92,519,813 |
Investors have the option to bid for a minimum of 365 shares, and they can bid in multiples of this amount. The table below outlines the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and total value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 365 | ₹14,965 |
| Retail (Max) | 13 | 4,745 | ₹194,545 |
| S-HNI (Min) | 14 | 5,110 | ₹209,510 |
| S-HNI (Max) | 66 | 24,090 | ₹987,690 |
| B-HNI (Min) | 67 | 24,455 | ₹1,002,655 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Tuesday, January 23, 2024 |
| IPO Close Date | Thursday, January 25, 2024 |
| Basis of Allotment | Monday, January 29, 2024 |
| Initiation of Refunds | Tuesday, January 30, 2024 |
| Credit of Shares to Demat | Tuesday, January 30, 2024 |
| Listing Date | Wednesday, January 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 25, 2024 |
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| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 147.44 | 160.30 | 180.78 | 196.37 |
| Revenue | 160.93 | 185.61 | 210.93 | 103.24 |
| Profit After Tax | 6.30 | 13.69 | 20.49 | 10.38 |
| Net Worth | 29.43 | 43.19 | 63.88 | 74.23 |
| Reserves & Surplus | 16.41 | 30.10 | 50.59 | 60.97 |
| Total Borrowing | 51.10 | 64.27 | 70.96 | 68.50 |
| KPI | Values |
|---|---|
| P/E (x) | 13.05 |
| Market Cap (₹ Cr.) | 379.33 |
| ROE | 38.27% |
| ROCE | 27.25% |
| EPS (Rs) | 3.14 |
| Debt/ Equity | 1.11 |
| RoNW | 32.08% |
The Net Proceeds from the Fresh Offer, calculated as the gross proceeds of the Fresh Offer minus the apportioned offer expenses, are intended to be allocated as follows:
Prospectus: Official documents that provide detailed information about the IPO and the company. Nova AgriTech DRHP and Nova AgriTech RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Nova AgriTech Limited" IPO is ₹39 to ₹41 per share.
The "Nova AgriTech Limited" IPO is expected to be listed on Wednesday, 31 January 2024.
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