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Nova AgriTech IPO is a book build issue of ₹143.81 crores. The issue is a combination of fresh issue of 2.73 crore shares aggregating to ₹112.00 crores and offer for sale of 0.78 crore shares aggregating to ₹31.81 crores.
Nova AgriTech IPO bidding started from Jan 23, 2024 and ended on Jan 25, 2024. The allotment for Nova AgriTech IPO was finalized on Jan 29, 2024. The shares got listed on BSE, NSE on Jan 31, 2024.
Nova AgriTech IPO price band is set at ₹41.00 per share . The lot size for an application is 365. The minimum amount of investment required by an retail is ₹14,235 (365 shares). The lot size investment for sNII is 14 lots (5,110 shares), amounting to ₹2,09,510, and for bNII, it is 67 lots (24,455 shares), amounting to ₹10,02,655.
Keynote Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹39 to ₹41 per share |
| Issue Price Final | ₹41 per share |
| Lot Size | 365 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 3,50,75,693 shares (aggregating up to ₹143.81 Cr) |
| Fresh Issue | 2,73,17,073 shares (aggregating up to ₹112.00 Cr) |
| Offer for Sale | 77,58,620 shares of ₹2 (aggregating up to ₹31.81 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 6,52,02,740 shares |
| Share Holding Post Issue | 9,25,19,813 shares |
Nova AgriTech IPO offers total 3,50,75,693 shares. Out of which 1,75,37,846 (50.00%) allocated to QIB, 70,15,626 (20.00%) allocated to QIB, 52,61,354 (15.00%) allocated to NII, 1,22,76,493 (35.00%) allocated to RII and 1,05,22,220 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,75,37,846 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,05,22,220 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 70,15,626 (20.00%) | NA |
| NII (HNI) Shares Offered | 52,61,354 (15.00%) | NA |
| − bNII > ₹10L | 35,07,569 (10.00%) | 686 |
| − sNII < ₹10L | 17,53,785 (5.00%) | 343 |
| Retail Shares Offered | 1,22,76,493 (35.00%) | 33,634 |
| Total Shares Offered | 3,50,75,693 (100.00%) |
Nova AgriTech IPO raises ₹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 | 1,05,22,220 |
| 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 | Tue, Jan 23, 2024 |
| IPO Close Date | Thu, Jan 25, 2024 |
| Tentative Allotment | Mon, Jan 29, 2024 |
| Initiation of Refunds | Tue, Jan 30, 2024 |
| Credit of Shares to Demat | Tue, Jan 30, 2024 |
| Tentative Listing Date | Wed, Jan 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jan 25, 2024 |
Investors can bid for a minimum of 365 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 365 | ₹14,965 |
| Retail (Max) | 13 | 4,745 | ₹1,94,545 |
| S-HNI (Min) | 14 | 5,110 | ₹2,09,510 |
| S-HNI (Max) | 66 | 24,090 | ₹9,87,690 |
| B-HNI (Min) | 67 | 24,455 | ₹10,02,655 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 |
| Total Income | 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 ₹379.33 Cr.
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| Price to Book Value | 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...
| Listing Date | January 31, 2024 |
| BSE Script Code | 544100 |
| NSE Symbol | NOVAAGRI |
| ISIN | INE02H701025 |
| Final Issue Price | ₹41 per share |
| BSE Listing Group | T |
Nova AgriTech Ltd.
Sy.No.251/A/1, Singannaguda Village
Mulugu Mandal
Siddipet, Medak- 502279
Siddipet, Telangana
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 3,50,75,693 equity shares of the face value of ₹2 aggregating up to ₹143.81 Crores. The issue is priced at ₹41 per share. The minimum order quantity is 365.
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, and the minimum amount required for application is ₹14,965.
You can apply in Nova AgriTech IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Nova AgriTech IPO listing date is on Wednesday, January 31, 2024.
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