nova agritech ipo: Nova Agritech IPO: 10 things to know before subscribing to the issue

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The initial public offer (IPO) of Nova Agritech will open for subscription on January 23, instead of January 22 due to a stock market holiday. The issue will close on January 25. The share allotment for the public offer will be done on January 29 and the company is gearing up for January 31 listing.

Here are 10 things to know about Nova Agritech IPO before subscribing to the issue:

  1. What is the business overview of Nova Agritech?
    Nova AgriTech is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer driven solution approach, wherein it mainly offers ecologically sustainable and nutritionally balanced products based on R&D.
  2. What is the industry overview of Nova Agritech?
    Crop nutrition industry primarily consists of fertilizers (chemical, organic and bio-fertilizers) and bio-stimulants. Fertilizer is any material of natural or synthetic origin that is applied to plant tissues or soil to supply plant nutrients. For most modern agricultural practices, fertilization focuses on three main macronutrients – Nitrogen , Phosphorus and Potassium.
  3. What is the size of Nova Agritech IPO?
    The IPO comprises fresh equity issue worth Rs 112 crore and an offer for sale (OFS) of 77.5 lakh shares.
  4. What is the price band for Nova Agritech IPO?
    Nova Agritech has fixed a price band of Rs 39-41 per share for its IPO. Investors can bid for 365 shares in 1 lot and in multiples thereafter.
  5. What is the structure of Nova Agritech IPO?
    About 50% of the offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.
  6. How is the financial performance of Nova Agritech?
    In FY23, the company’s revenue from operations jumped 13% year-on-year to Rs 210 crore, while profit after tax (PAT) surged 50% to Rs 20.48 crore. In the six months ended September 2023 period, revenue stood at Rs 103 crore and profit was at Rs 10.3 crore.
  7. What are the objects of Nova Agritech IPO?
    Funds from the IPO will be used for investment in its subsidiary, funding capex and working capital requirements.
  8. What is the current GMP of Nova Agritech?
    According to market analysts, the current GMP of Nova Agritech is Rs 20 in the unlisted market.
  9. Who are the book running lead managers for Nova Agritech IPO?
    Keynote Financial Services and Bajaj Capital are the book-running lead managers and Bigshare Services is the registrar to the offer.
  10. When is the share allotment and listing date of Nova Agritech IPO?
    The share allotment for the IPO will be finalised on January 29 and the listing date is fixed as January 31.

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