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Nova AgriTech Limited IPO – Upcoming IPO in India January 2024
By: Akriti Tomar | Date : Jan 20, 24
Nova AgriTech IPO is a book-built issue worth Rs 143.81 crores, comprising a fresh issue of 2.73 crore shares amounting to Rs 112.00 crores and an offer for sale of 0.78 crore shares totaling Rs 31.81 crores.
The subscription for Nova AgriTech IPO commences on January 23, 2024, and concludes on January 25, 2024. The allotment is expected to be finalized on Monday, January 29, 2024, with the tentative listing date set for Wednesday, January 31, 2024.
The price band for Nova AgriTech IPO is fixed at ₹39 to ₹41 per share, and the minimum lot size for an application is 365 shares. Retail investors are required to invest a minimum of ₹14,965. For sNII, the minimum lot size is 14 lots (5,110 shares), totaling ₹209,510, and for bNII, it is 67 lots (24,455 shares), amounting to ₹1,002,655.
Keynote Financial Services Ltd and Bajaj Capital Limited serve as the book running lead managers for the Nova AgriTech IPO, with Bigshare Services Pvt Ltd acting as the registrar for the issue.
For detailed information, please refer to the Nova AgriTech IPO RHP.
Nova AgriTech IPO Objective
The utilization plan for the net proceeds of the Fresh Offer, derived from the gross proceeds minus the apportioned offer expenses to the company, is outlined as follows:
- Investment in the subsidiary, Nova Agri Sciences Private Limited, to establish a new formulation plant.
- Funding capital expenditure in the Company for the expansion of the existing formulation plant.
- Addressing the company’s working capital needs..
- Investment in the subsidiary, Nova Agri Sciences Private Limited, to support working capital requirements.
- General corporate purposes.
Nova AgriTech IPO Details
Open and Close Date of Nova AgriTech IPO
The subscription for the IPO will be open from 23rd January and will close on 25th January, 2024.
| IPO Open Date | January 23rd, 2024 |
| IPO Close Date | January 25th, 2024 |
Nova AgriTech IPO share price
The price band for the Nova AgriTech IPO has been set at ₹39 to ₹41 per share.
| IPO Price Band | ₹39 to ₹41 per share |
Nova AgriTech IPO Issue Type, Face Value, IPO Price, Market Lot, Listing, Total Issue Size
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per share |
| Market Lot | 365 Shares |
| Listing At | BSE, NSE |
| Total Issue Size | 35,075,693 shares (aggregating up to ₹143.81 Cr) |
Nova AgriTech IPO Promoter Holding
The company’s promoters include Suraksha Agri Retails (India) Private Limited, Malathi S, and Kiran Kumar Atukuri.
| Share Holding Pre Issue | 84.27% |
| Share Holding Post Issue | 59.39% |
Nova AgriTech Limited’ Financial Information (Reiterated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 22 Mar 2022 | 31 Mar 2021 |
| Assets | 196.37 | 180.78 | 160.30 | 147.44 |
| Revenue | 103.24 | 210.93 | 185.61 | 160.93 |
| Profit After Tax | 10.38 | 20.49 | 13.69 | 6.30 |
| Net Worth | 74.23 | 63.88 | 43.19 | 29.43 |
| Reserves and Surplus | 60.97 | 50.59 | 30.10 | 16.41 |
| Total Borrowing | 68.50 | 70.96 | 64.27 | 51.10 |
Nova AgriTech IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Contact Information
Nova AgriTech Limited
Sy.No.251/A/1, Singannaguda Village
Mulugu Mandal
Siddipet, Medak- 502279
Phone: +91 84 54253446
Email: ipo@novaagri.in
Website: https://novaagri.in/
Nova AgriTech IPO Prospectus
Nova AgriTech IPO DRHP
Nova AgriTech IPO RHP
Anchor Investors in Nova AgriTech IPO
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