Nova Agri Tech IPO Review

 
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Nova Agri Tech IPO Review

IPO Open Date: 22, January, 2024

IPO Close Date: 24, January, 2024

IPO Price: ₹39 to ₹41 per share

Lot Size: 365 Shares

Listing: January 30, 2024

Nova Agri Tech is scheduled to hit the market on January 22, 2024 and close on January 24, 2024. Nova Agri Tech plans to raise around ₹143.81 Cr through an IPO with a sale of up to 35,075,693 equity shares of ₹2 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Established in Hyderabad in May 2007, Nova Agri Tech Limited specializes in producing solutions to enhance crop growth. Emphasizing soil health, plant nutrition, and crop protection, the company harnesses technology to craft environmentally sustainable and nutrient-rich products. By collaborating closely with farmers, Nova Agri Tech develops tailored solutions, addressing specific agricultural needs.

The company's diverse product lineup encompasses soil health enhancers, crop nutrition supplements, biostimulants, biopesticides, integrated pest management solutions, innovative technologies, and crop protection offerings. Additionally, its subsidiary, Nova Agri Sciences Private Limited, focuses on the production of crop protection products.

Nova Agri Tech


Nova Agri Tech IPO Details

Nova Agri Tech IPO opens on Jan 22, 2024, and closes on Jan 24, 2024. The Listing date for Nova Agri Tech IPO is on Jan 30, 2024. The price band for IPO is ₹39 to ₹41 per share and lot size of 365 Shares.

IPO DateJan 22, 2024 to Jan 24, 2024
Listing DateJan 30, 2024
Price₹39 to ₹41 per share
Lot Size365 Shares
Issue Size₹143.81 Cr
Face Value₹2 per share

Nova Agri Tech IPO Tentative Timetable

Nova Agri Tech opening date is January 22, 2024 and close date is January 24, 2024. The IPO allotment date is January 25, 2024. The refund initiation of IPO is on January 29, 2024. The credit of shares in demat account is on January 29, 2024. The listing date is on January 30, 2024.

EventDate
IPO OpeningJan 22, 2024
IPO ClosingJan 24, 2024
IPO Allotment DateJan 25, 2024
Refund InitiationJan 29, 2024
Shares Credit to DematJan 29, 2024
Lisiting DateJan 30, 2024

Nova Agri Tech IPO Lot Size

Lot Size of this IPO is 365 shares. A retail-individual investor can apply for up to 13 lots (4745 shares or ₹194,545).

CategoryLotsSharesAmount
Retail(Minimum)1365₹14,965
Retail(Maximum)134745₹194,545
S-HNI (Minimum)145,110₹209,510
B-HNI (Minimum)6724,455₹1,002,655

Nova Agri Tech IPO Promoter Holding

Pre Issue Share Holding84.27%
Post Issue Share Holding59.39%

Nova Agri Tech IPO Review

Nova Agri Tech Limited boasts a diverse product portfolio, evident from its 629 product registrations segmented into four pivotal categories: soil health management, plant nutrition, biopesticides, and crop protection. These registrations signify the company's commitment to addressing various agricultural needs comprehensively. Additionally, the company's unique grassroots engagement model is noteworthy. With 13 Kisan Mitras, 253 Kisan Sevaks, and a dedicated team of 32 NKSK Coordinators, all possessing agricultural science degrees, Nova Agri Tech ensures direct, personalized interactions with farmers. This strategic approach fosters trust, promotes understanding, and facilitates efficient dissemination of agricultural solutions, underlining the company's grassroots outreach.

From a financial standpoint, Nova Agri Tech Limited has showcased commendable growth between FY 2021 and FY 2022. Notably, the company witnessed a 15.34% surge in revenue and an impressive 117.29% increase in profit after tax (PAT). The company's balance sheet metrics, such as assets, net worth, and reserves, reflect a positive trajectory, indicating robust operational efficiency and financial health. However, the company's borrowing has seen a marginal increase, highlighting the necessity to further bolster its equity base through the IPO to support its growth aspirations.

The impending IPO of Nova Agri Tech Limited is strategically poised to harness the capital markets to propel its growth agenda. The proposed utilization of the IPO proceeds delineates a multifaceted strategy aimed at both expansion and consolidation. A significant portion is earmarked for investments in Nova Agri Sciences Private Limited, emphasizing the company's intent to augment its subsidiary's infrastructure and working capital. Moreover, directing funds towards enhancing the existing formulation plant and funding overall working capital requirements underscores Nova Agri Tech's commitment to scaling its operations, improving production efficiencies, and meeting burgeoning market demands. Lastly, allocating resources for general corporate purposes will provide the company with the necessary flexibility to navigate the competitive agricultural landscape, foster innovation, and drive sustained value creation for stakeholders.

Nova Agri Tech IPO Subscription Status (Bidding Details)

Table not found

Nova Agri Tech IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Nova Agri Tech IPO FAQs

What is Nova Agri Tech IPO?

Nova Agri Tech is issuingequity shares with a face value of ₹2 each, totaling up to ₹143.81 Cr. The shares are being offered at a price of ₹39 to ₹41 each, with a minimum order quantity of 365 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Nova Agri Tech IPO will open?

Nova Agri Tech will open on January 22, 2024 for QIB, NII, and Retail Investors.

When Nova Agri Tech IPO will end?

Nova Agri Tech will end on January 24, 2024.

What is Nova Agri Tech IPO Size?

Nova Agri Tech IPO size is ₹143.81 Cr.

What is Nova Agri Tech IPO Price Band?

Nova Agri Tech price band is ₹39 to ₹41 per share.

What is the Nova Agri Tech IPO Allotment Date?

Nova Agri Tech allotment date is January 25, 2024.

What is the Nova Agri Tech IPO Listing Date?

Nova Agri Tech listing date is January 30, 2024. The IPO is to be listed on BSE and NSE.

How to Nova Agri Tech IPO through Zerodha?

To apply for the IPO “Nova Agri Tech” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Nova Agri Tech IPO through Upstox?

To apply for the IPO “Nova Agri Tech” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Nova Agri Tech IPO Allotment Status?

For Nova Agri Tech IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Nova Agri Tech IPO GMP?

You can check out here: Nova Agri Tech IPO GMP

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Article By: Manish Sharma
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I'm tech-savvy, loves to write about saving, investing and proper financial planning. Also, I am a blogger, share everything with 100% transparency and the best of my knowledge.

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