Bookbuilding IPO | ₹144 Cr | Listed at BSE, NSE | Tue, Jan 23, 2024 - Thu, Jan 25, 2024
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 per share. The lot size for an application is 365. The minimum amount of investment required by an retail is ₹14,965 (365 shares) (based on upper price). 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 Open
Tue, Jan 23, 2024
IPO Close
Thu, Jan 25, 2024
Issue Price
₹41 per share
Market Cap (Pre-IPO)
₹379.33 Cr
| IPO Date | 23 to 25 Jan, 2024 |
| Listed on | Wed, Jan 31, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹39 to ₹41 |
| Issue Price | ₹41 per share |
| Lot Size | 365 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,50,75,693 shares (agg. up to ₹144 Cr) |
| Fresh Issue | 2,73,17,073 shares (agg. up to ₹112 Cr) |
| Offer for Sale | 77,58,620 shares of ₹2 (agg. up to ₹32 Cr) |
| Share Holding Pre Issue | 6,52,02,740 shares |
| Share Holding Post Issue | 9,25,19,813 shares |
| BSE Script Code / NSE Symbol | 544100 / NOVAAGRI |
| ISIN | INE02H701025 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 365 shares and in multiples thereof.
| 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 |
Nova AgriTech IPO raises ₹43.14 crore from anchor investors. Nova AgriTech IPO Anchor bid date is January 19, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Jan 19, 2024 |
| Shares Offered | 1,05,22,220 |
| Anchor Portion (₹ Cr.) | 43.14 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Feb 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Apr 28, 2024 |
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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant | 14.20 |
| 2 | Funding Capital Expenditure by the Company,towards expansion of the existing formulation plant | 10.49 |
| 3 | Funding of working capital requirement of the Company | 26.65 |
| 4 | Investment in the subsidiary, Nova Agri Sciences Private Limited for funding working capital requirements | 43.36 |
| 5 | General Corporate purposes | 3.13 |
| Total | 97.83 |
| KPI | |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| PAT Margin | 9.73% |
| Price to Book Value | 4.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.14 | 2.24 |
| P/E (x) | 13.05 | 18.27 |
| Promoter Holding | 84.27% | 59.39% |
| Market Cap | ₹379.33 Cr. |
The Nova AgriTech IPO is subscribed 113.21 times on January 25, 2024 7:02:00 PM (Day 3). The public issue subscribed 80.2 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 81.13 | 70,15,139 | 56,91,65,305 |
| NII | 233.03 | 52,61,354 | 1,22,60,29,160 |
| bNII (bids above ₹10L) | 231.4 | 35,07,569 | 81,16,66,195 |
| sNII (bids below ₹10L) | 236.27 | 17,53,785 | 41,43,62,965 |
| Retail | 80.2 | 1,22,76,492 | 98,45,38,955 |
| Total | 113.21 | 2,45,52,985 | 2,77,97,33,420 |
Total Application : 25,40,394
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 5.09 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs | 1.82 |
| 3 | Bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs | 0.89 |
| 4 | Fees payable to Registrar to the Offer | 0.81 |
| 5 | Listing Fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses such as ROC fees, Depository Charges, etc. | 1.66 |
| 6 | Printing and stationery expenses | 1.12 |
| 7 | Advertising and marketing expenses | 1.68 |
| 8 | Fees payable to legal counsels | 0.65 |
| 9 | Miscellaneous expenses such as Chartered engineer fees, PCS fees, Monitoring Agency, Other Advisors to the offer and other out of pocket expenses including travelling and conveyance | 0.45 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹41.00 | ₹41.00 |
| Open | ₹56.00 | ₹55.00 |
| Low | ₹55.00 | ₹55.00 |
| High | ₹58.79 | ₹57.75 |
| Last Trade | ₹58.79 | ₹57.75 |
Lead Manager Reports
Nova AgriTech IPO is a main-board IPO of 3,50,75,693 equity shares of the face value of ₹2 aggregating up to ₹144 Crores. The issue is priced at ₹41 per share. The minimum order quantity is 365.
The IPO opens on Tue, Jan 23, 2024, and closes on Thu, Jan 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 Tue, Jan 23, 2024 and closes on Thu, Jan 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 Tue, Jan 30, 2024. Check the Nova AgriTech IPO allotment status.
The Nova AgriTech IPO listing date is on Wed, Jan 31, 2024.
