Nova Agritech IPO Opens Soon: Apply Jan 23-25, Anticipate Over 48% Return on Listing
Nova Agritech Limited’s IPO Details
Nova Agritech Limited’s Initial Public Offering (IPO) is set to open for public subscription next week, aiming to raise ₹143.81 crore through the issue.
Key Dates for Retail Investors:
- Subscription Period: January 23 to January 25
- Listing Date: January 31 on BSE and NSE
Investment Details:
- Minimum Lot Size: 365 shares
- IPO Price Band: ₹39-₹41 per share
Investment Amount:
- For 1 lot (365 shares) at the upper price band of ₹41: ₹14,965
- Maximum Investment (13 lots, 4745 shares): ₹194,545
Interested retail investors can participate in the IPO within the specified subscription period, and the shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 31.
Nova Agritech Limited’s IPO Offering Details
Nova Agritech Limited plans to issue new shares worth ₹112 crore in its upcoming Initial Public Offering (IPO). The company will issue 27,317,073 new shares at a total value of ₹112 crore. Additionally, promoters and existing investors will sell 7,758,620 shares through Offer for Sale (OFS), amounting to ₹31.81 crore.
Expected Returns:
Before the IPO opening, the company’s shares were trading at a premium of 48.78% or ₹20 per share in the gray market. With this premium, considering the upper price band of ₹41, the potential listing price could be around ₹61.
About Nova Agritech Limited:
Established in May 2007 in Hyderabad, Nova Agritech focuses on manufacturing products to support farmers in cultivating better crops. The company’s product range primarily covers three areas: soil health, plant nutrition, and crop protection. As of January 31, 2023, Nova Agritech boasts a total of 6292 product listings, with a dedicated sales team of 215 people.
