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Nova AgriTech IPO is a book built issue of Rs 143.81 crores. The issue is a combination of fresh issue of 2.73 crore shares aggregating to Rs 112.00 crores and offer for sale of 0.78 crore shares aggregating to Rs 31.81 crores.
Nova AgriTech IPO bidding started from January 23, 2024 and ended on January 25, 2024. The allotment for Nova AgriTech IPO was finalized on Monday, January 29, 2024. The shares got listed on BSE, NSE on January 31, 2024.
Nova AgriTech IPO price band is set at ₹39 to ₹41 per share. The minimum lot size for an application is 365 Shares. The minimum amount of investment required by retail investors is ₹14,965. The minimum lot size investment for sNII is 14 lots (5,110 shares), amounting to ₹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 are the book running lead managers of the Nova AgriTech IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Nova AgriTech IPO RHP for detailed information.
| IPO Date | January 23, 2024 to January 25, 2024 |
| Listing Date | 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 |
Nova AgriTech IPO offers 35,075,205 shares. 7,015,139 (20.00%) to QIB, 5,261,354 (15.00%) to NII, 12,276,492 (35.00%) to RII and 10,522,220 (30.00%) to Anchor investors. 33,634 RIIs will receive minimum 365 shares and 343 (sNII) and 686 (bNII) will receive minimum 5,110 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 10,522,220 (30.00%) | NA |
| QIB Shares Offered | 7,015,139 (20.00%) | NA |
| NII (HNI) Shares Offered | 5,261,354 (15.00%) | |
| bNII > ₹10L | 3,507,569 (10.00%) | 686 |
| sNII < ₹10L | 1,753,785 (5.00%) | 343 |
| Retail Shares Offered | 12,276,492 (35.00%) | 33,634 |
| Total Shares Offered | 35,075,205 (100%) |
Nova AgriTech IPO raises Rs 43.14 crore from anchor investors. Nova AgriTech IPO Anchor bid date is January 19, 2024. Nova AgriTech IPO Anchor Investors list
| Bid Date | January 19, 2024 |
| Shares Offered | 10,522,220 |
| Anchor Portion Size (In Cr.) | 43.14 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 28, 2024 |
Nova AgriTech IPO opens on January 23, 2024, and closes on January 25, 2024.
| 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 |
Investors can bid for a minimum of 365 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 365 | ₹14,965 |
| Retail (Max) | 13 | 4745 | ₹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 |
| Lot Size Calculator | |||
The promoters of the company are Suraksha Agri Retails (India) Private Limited, Malathi S, and Kiran Kumar Atukuri.
| Share Holding Pre Issue | 84.27% |
| Share Holding Post Issue | 59.39% |
Founded in Hyderabad in May 2007, Nova AgriTech Limited manufactures products that help farmers grow crops better. The main focus is on three things: Soil health, plant nutrition and crop protection. The products are manufactured using technology and are designed to be environmentally friendly and nutritious. The company collaborates with farmers to gain insight into their needs and develop customized solutions that meet their requirements.
The company manufactures, distributes and markets a broad range of product categories, including (a) soil health products, (b) crop nutrition products, (c) biostimulants, (d) biopesticides, (e) integrated pest management (IPM) products, (f) new technologies and (g) crop protection products. The subsidiary Nova Agri Sciences Private Limited is currently responsible for the production of crop protection products.
As of January 31, 2023, the company has received a total of 629 product registrations. These registrations are divided into four categories, namely soil health management, plant nutrition, biopesticides and crop protection. These include 7 registrations in the soil health management category, 168 registrations in the plant nutrition category, 4 registrations in the biopesticide category and 450 registrations in the crop protection category.
By January 31, 2023, the company has 13 Kisan Mitras and 253 Kisan Sevaks at its base.
As on January 31, 2023, the Company has a team of 32 NKSK Coordinators, all of whom have a degree in Agricultural Sciences and are on the Company's payroll.The NKSK program comprises three levels: NKSK Coordinators, Kisan Mitras and Kisan Sevaks. This ensures personal contact with the farmers at the grassroots level.
The company employs 215 people in its sales team. They manage brand sales, distribution channels, and product promotion.
| 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 |
| Amount in ₹ Crore | ||||
The market capitalization of Nova AgriTech IPO is Rs 379.33 Cr.
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| P/BV | 4.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.14 | 2.24 |
| P/E (x) | 13.05 | 18.27 |
The net proceeds of the Fresh Offer, i.e. gross proceeds of the Fresh Offer less the offer expenses apportioned to the company ("Net Proceeds") are proposed to be utilised in the following manner:
[Dilip Davda] The company is operating in a highly competitive segment of agri-input. It posted growth for the last three fiscals, but H1 of FY24 indicates static performance. Based on FY24 annualized earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long term rewards. Read detail review...
The Nova AgriTech IPO is subscribed 113.21 times on January 25, 2024 7:02:00 PM. The public issue subscribed 80.20 times in the retail category, 81.13 times in the QIB category, and 233.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 81.13 |
| NII | 233.03 |
| bNII (bids above ₹10L) | 231.40 |
| sNII (bids below ₹10L) | 236.27 |
| Retail | 80.20 |
| Total | 113.21 |
Total Application : 2,540,394 (75.53 times)
| Listing Date | January 31, 2024 |
| BSE Script Code | 544100 |
| NSE Symbol | NOVAAGRI |
| ISIN | INE02H701025 |
| Final Issue Price | ₹41 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹41.00 |
| ₹56.00 |
| ₹55.00 |
| ₹58.79 |
| ₹58.79 |
| NSE |
|---|
| ₹41.00 |
| ₹55.00 |
| ₹55.00 |
| ₹57.75 |
| ₹57.75 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Nova AgriTech IPO is a main-board IPO of 35,075,693 equity shares of the face value of ₹2 aggregating up to ₹143.81 Crores. The issue is priced at ₹39 to ₹41 per share. The minimum order quantity is 365 Shares.
The IPO opens on January 23, 2024, and closes on January 25, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Nova AgriTech IPO using UPI as a payment gateway. Zerodha customers can apply in Nova AgriTech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Nova AgriTech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Nova AgriTech IPO opens on January 23, 2024 and closes on January 25, 2024.
Nova AgriTech IPO lot size is 365 Shares, and the minimum amount required is ₹14,965.
You can apply in Nova AgriTech IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Nova AgriTech IPO will be done on Monday, January 29, 2024, and the allotted shares will be credited to your demat account by Tuesday, January 30, 2024. Check the Nova AgriTech IPO allotment status.
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