Nova AgriTech Limited IPO (Nova AgriTech IPO) Detail
Nova AgriTech IPO has a book issue of 143.81 crores. The issue is a combination of fresh issue of 2.73 crore shares which will be aggregated to Rs 112.00 crore and offer to sell 0.78 crore shares for Rs 31.81 crore.Nova AgriTech IPO bidding started on January 23, 2024 and ends on January 25, 2024. The offer for Nova AgriTech IPO ended on Monday, January 29, 2024. The stock is listed on BSE , NSE on January 31. 2024.Nova AgriTech IPO price range is set at Rs 39-41 per share. The lot size for the project is 365 shares. The minimum investment required for retail investors is Rs 14,965 The minimum capital investment for sNII is 14 lots (5,110 shares), the maximum is Rs 209,510, for bNII, 67 lots ( 24,455 shares), amounting to Rs 1,002.65..
Nova AgriTech IPO Details
| 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 Lot Size
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 |
Nova AgriTech IPO Timeline (Tentative Schedule)
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 |
Nova AgriTech IPO Anchor Investors Details
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) |
Nova AgriTech IPO Reservation
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%) |
About Nova AgriTech Limited
Founded in Hyderabad in May 2007, Nova AgriTech Limited manufactures products that help farmers grow crops. The main purpose is three things: soil health, plant nutrition and plant protection. The products are manufactured using technology and design to be environmentally and food friendly. The company works with farmers to understand their needs and develop solutions that match their needs.The Company manufactures, distributes and markets a wide variety of products, including (a) soil health products, (b) plant nutrients, (c) biological stimulants, (d)) pesticides, (e) pest management (IPM) products, (f) new technologies and (g) pesticides. The subsidiary Nova Agri Sciences Private Limited is responsible for the production of pesticides.As of January 31, 2023, the company has received 629 product registrations. These registrations are divided into four categories.