What you must know about Nova AgriTech IPO?
by 5paisa Research Team
16 Jan 2024
Listing Details
- Listing Exchange BSE, NSE
- Listing Date 31-Jan-24
- IPO Price Range ₹39
- Listing Price ₹56
- Listing Change 36.6 %
- Last Traded Price ₹58.88
- Current Change 43.6 %
Nova Agritech IPO Details
- Open Date 23-Jan-24
- Close Date 25-Jan-24
- Lot Size 365
- IPO Size ₹ 143.81 Cr
- IPO Price Range ₹ 39 to ₹ 41
- Min Investment ₹ 14235
- Listing Exchange BSE, NSE
- Basis of Allotment 29-Jan-24
- Refunds 30-Jan-24
- Credit to Demat Account 30-Jan-24
- Listing Date 31-Jan-24
Nova Agritech IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 23-Jan-24 | 0.63 | 15.34 | 13.55 | 10.24 |
| 24-Jan-24 | 1.14 | 74.21 | 38.09 | 35.27 |
| 25-Jan-24 | 81.13 | 233.01 | 80.18 | 113.20 |
Nova Agritech IPO Synopsis
Nova AgriTech Limited IPO is all set to open from 23rd January to 25th January 2024. The company operates as an agri-input manufacturer. The IPO includes a fresh issue of 27,317,073 shares worth ₹112.00 cr and an Offer-for-Sale (OFS) of 7,758,620 equity shares worth ₹31.81 cr. The total IPO size is ₹143.81 cr. The share allotment date is 29th January 2024, and the IPO will be listed on 31st January 2024 on the stock exchanges. The price band is ₹39 to ₹41 and the lot size is 365 shares.
Keynote Financial Services Limited and Bajaj Capital Limited are the book-running lead managers for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Nova AgriTech IPO:
Nova AgriTech Limited plans to utilize the raised capital from the IPO to:
● To fulfill working expenditure requirements for the expansion of the existing formulation plant.
● To fund investment in its subsidiary called Nova Agri Sciences Private Limited for a new formulation plant and working capital requirements.
● To meet working capital requirements.
● General corporate purposes.
Nova AgriTech IPO Video:
About Nova Agritech
Incorporated in 2007, Nova AgriTech Limited operates as an agri-input manufacturer. The company provides products for soil health management, crop nutrition and crop protection. Nova AgriTech focuses on a tech-based farmer-driven solution approach and provides R&D-driven ecologically sustainable and nutritionally balanced products.
The company product portfolio includes:
● Soil health management products
● Crop nutrition products
● Bio stimulant products
● Bio pesticide products
● Integrated Pest Management products
● New technologies
● Crop protection products
Nova AgriTech has 720 product registrations as of November 2023. Additionally, it has an active dealer network of 6,769 dealers across 16 Indian States. The company markets, distributes and supplies its products to Bangladesh, Sri Lanka and Vietnam via third parties.
Nova AgriTech runs the Nova Kisan Seva Kendra program (NKSK), which is a farmer outreach program. The program aims to educate farmers on crop management practices.
Peer Comparison
● Aries Agro Limited
● Aimco Pesticides Limited
● Basant Agrotech Limited
● Best Agrolife Limited
● Bhagiradha Chemicals & Industries Limited
● Heranba Industries Limited
● India Pesticides Limited
● Madras Fertilizers Limited
● Dharmaj Crop Guard Limited
For More Information:
Webstory on Nova AgriTech IPO
Nova Agritech Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 210.55 | 185.56 | 160.57 |
| EBITDA | 38.72 | 27.78 | 17.79 |
| PAT | 20.49 | 13.69 | 6.30 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 180.78 | 160.29 | 147.43 |
| Share Capital | 12.54 | 12.54 | 12.54 |
| Total Borrowings | 116.90 | 117.10 | 118.00 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 5.45 | 2.48 | 5.18 |
| Net cash from / (used in) investing activities | -1.85 | -3.88 | -3.12 |
| Net cash flow from / (used in) financing activities | -1.88 | 2.72 | -1.83 |
| Net increase (decrease) in cash and cash equivalents | 1.71 | 1.33 | 0.23 |
Nova Agritech IPO Key Points
-
Strengths
1. The company is a one-stop solution for agri-tech products with its diversified branded product portfolio.
2. It has an established distribution network across various geographies.
3. The company is focused on strengthening farmer outreach through Nova Kisan Seva Kendra.
4. It has technology-driven product development and marketing and a dedicated in-house R&D facility.
5. Well-experienced management team.
-
Risks
1. The company can be impacted negatively if there is any change in Government policies towards the agriculture sector or a reduction in subsidies and incentives provided to farmers.
2. It has reported negative cash flows in the past.
3. The company needs to obtain and maintain various licenses and permits.
4. High working capital requirements.
5. The business is subject to climatic conditions.
6. A majority of the revenue comes from Andhra Pradesh, Karnataka and Telangana, which creates concentration risk.
Nova Agritech
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Nova Agritech IPO FAQs
When does the Nova AgriTech IPO opens and closes?
Nova AgriTech IPO opens from 22nd January to 24th January 2024.
What is the size of the Nova AgriTech IPO?
The Nova AgriTech IPO size is ₹143.81 cr.
How to apply for the Nova AgriTech IPO?
To apply for Nova AgriTech IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Nova AgriTech Limited IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the GMP of the Nova AgriTech IPO?
The GMP value of every IPO changes daily. To view today's GMP of Nova AgriTech IPO visit https://www.5paisa.com/ipo/ipo-gmp
What is the price band of Nova AgriTech IPO?
The price band of Nova AgriTech IPO is fixed at ₹39 to ₹41 per share.
What is the minimum lot size and investment required for the Nova AgriTech IPO?
The minimum lot size of Nova AgriTech IPO is 365 shares and the investment required is ₹14,235.
What is the allotment date of the Nova AgriTech IPO?
The share allotment date of Nova AgriTech IPO is 25th January 2024.
What is the Nova AgriTech IPO listing date?
The Nova AgriTech IPO will be listed on 30th January 2024.
Who are the book runners for the Nova AgriTech IPO?
Keynote Financial Services Limited and Bajaj Capital Limited are the book-running lead managers for Nova AgriTech IPO.
What is the objective of the Nova AgriTech IPO?
Nova AgriTech Limited plans to utilize the raised capital from the IPO to:
1. To fulfill working expenditure requirements for the expansion of the existing formulation plant.
2. To fund investment in its subsidiary called Nova Agri Sciences Private Limited for a new formulation plant and working capital requirements.
3. To meet working capital requirements.
4. General corporate purposes.
Contact Details of Nova Agritech IPO
Contact Information
Nova AgriTech Limited
Sy.No.251/A/1, Singannaguda Village
Mulugu Mandal
Siddipet, Medak- 502279
Phone: +91 84 54253446
Email: ipo@novaagri.in
Website: https://novaagri.in/
Nova Agritech IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Nova Agritech IPO Lead Manager
Keynote Financial Services Ltd
Bajaj Capital Limited
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