Nova AgriTech is all set to launch its IPO, raising funds through a book-built issue of Rs 143.81 crores. This includes 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 window for Nova AgriTech IPO opens on January 23, 2024, and closes on January 25, 2024. The allotment process is anticipated to be completed by Monday, January 29, 2024. The IPO is scheduled to be listed on both BSE and NSE, with a tentative listing date set for Wednesday, January 31, 2024.
Investors looking to participate can do so within the price band of ₹39 to ₹41 per share. The minimum lot size for an application is 365 shares, requiring a minimum investment of ₹14,965 for retail investors. For sNII, the minimum lot size investment is 14 lots (equivalent to 5,110 shares), amounting to ₹209,510, and for bNII, it is 67 lots (equivalent to 24,455 shares), totaling ₹1,002,655.
Managing the IPO process are Keynote Financial Services Ltd and Bajaj Capital Limited as the book running lead managers, with Bigshare Services Pvt Ltd serving as the registrar for the issue.
For more detailed information, please refer to the Nova AgriTech IPO RHP document.
About Nova AgriTech Limited
Established in Hyderabad in May 2007, Nova AgriTech Limited is dedicated to aiding farmers in enhancing their crop yields. The company concentrates on three main aspects: soil health, plant nutrition, and crop protection. Utilizing advanced technology, Nova AgriTech manufactures environmentally friendly and nutritious products. Working closely with farmers, the company tailors solutions to address their specific needs.
Nova AgriTech engages in the manufacturing, distribution, and marketing of various product categories, such as soil health products, crop nutrition products, biostimulants, biopesticides, integrated pest management (IPM) products, new technologies, and crop protection products. The subsidiary, Nova Agri Sciences Private Limited, is currently responsible for producing crop protection items.
As of January 31, 2023, the company has obtained a total of 629 product registrations, categorized into soil health management, plant nutrition, biopesticides, and crop protection. These include 7 registrations for soil health management, 168 for plant nutrition, 4 for biopesticides, and 450 for crop protection.
By the same date, Nova AgriTech has 13 Kisan Mitras and 253 Kisan Sevaks. Additionally, the company employs 32 NKSK Coordinators, all holding degrees in Agricultural Sciences and on the company’s payroll. The NKSK program operates through three levels: NKSK Coordinators, Kisan Mitras, and Kisan Sevaks, ensuring direct contact with farmers at the grassroots level.
In terms of its sales team, the company has 215 employees who manage brand sales, distribution channels, and product promotion.
Nova AgriTech IPO Details
| Attribute | Details |
|---|---|
| IPO Date | January 23, 2024 to January 25, 2024 |
| Listing Date | [.] |
| 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 |
| Shareholding pre-issue | 65,202,740 |
| Shareholding post-issue | 92,519,813 |
Nova AgriTech IPO Schedule
The Nova AgriTech IPO starts on January 23, 2024, and ends on January 25, 2024.
| Event | Date |
|---|---|
| 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 |
check Nova AgriTech IPO GMP Live
Nova AgriTech IPO Lots Details
| 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 |
The Nova AgriTech IPO offers various application options for investors. Retail investors can apply for a minimum of 1 lot, equivalent to 365 shares, with an investment amount of ₹14,965. The maximum limit for retail investors is set at 13 lots, comprising 4,745 shares, requiring an amount of ₹194,545. Semi-High Net Worth Individuals (S-HNI) have a minimum application size of 14 lots, which is 5,110 shares, with an investment of ₹209,510. The maximum limit for S-HNI investors is 66 lots, equivalent to 24,090 shares, and an investment of ₹987,690. For High Net Worth Individuals (B-HNI), the minimum application is 67 lots, totaling 24,455 shares, with an investment amount of ₹1,002,655.
Nova AgriTech IPO Objectives
The money gained from the Fresh Offer, which is the total money received minus the expenses, will be used in the following ways:
1. Investing in the subsidiary, Nova Agri Sciences Private Limited, to establish a new formulation plant.
2. Funding Capital Expenditure in the Company to expand the current formulation plant.
3. Supporting the company’s day-to-day financial needs (working capital requirements).
4. Investing in the subsidiary, Nova Agri Sciences Private Limited, to meet its working capital requirements.
5. Covering general corporate expenses.
Nova AgriTech IPO Promoter Holding
The company’s promoters include Suraksha Agri Retails (India) Private Limited, along with individuals Malathi S and Kiran Kumar Atukuri. As of the pre-issue stage, the promoters collectively hold a significant share of 84.27% in the company. However, following the issue, their combined ownership decreases to 59.39%. This change in shareholding reflects the impact of the issuance of new shares, potentially involving external investors, as the company seeks to raise funds and expand its ownership base.
Nova AgriTech Limited Financial Information
| 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 Performance Indicators
| KPI | Values |
|---|---|
| Return on Equity (ROE) | 38.27% |
| Return on Capital Employed (ROCE) | 27.25% |
| Debt/Equity Ratio | 1.11 |
| Return on Net Worth (RoNW) | 32.08% |
| Price to Book Value (P/BV) | 4.06 |
Nova AgriTech Limited :
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 FAQs
1 ) What is Nova AgriTech IPO?
The Nova AgriTech IPO is a main-board offering of 35,075,693 equity shares with a face value of ₹2, totaling ₹143.81 Crores. The price per share ranges from ₹39 to ₹41, and the minimum order quantity is set at 365 shares.
The IPO is scheduled to open on January 23, 2024, and conclude on January 25, 2024.
Bigshare Services Pvt Ltd is the appointed registrar for the IPO, and the shares are intended to be listed on both BSE and NSE.
2) When is Nova AgriTech IPO allotment?
The determination of the Basis of Allotment for the Nova AgriTech IPO is scheduled for Monday, January 29, 2024. The assigned shares will be deposited into your demat account by Tuesday, January 30, 2024.
3) When Nova AgriTech IPO will open?
Nova AgriTech IPO opens on January 23, 2024 and closes on January 25, 2024.
1 thought on “Nova Agritech ipo Details”