IPO - Nova AgriTech Limited (All you need to know about before investing)
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Nova AgriTech Limited IPO
Nova AgriTech Limited registered in Hyderabad in May 2007 as a Research based company with manufacturing facilities located in Hyderabad. Nova AgriTech Limited deals with Soil health management. Crop Nutrition segment with different categories like Organic Fertilizers, Inorganic Primary , Secondary, and Micro Nutrients, Specialty Nutrients, and IPM products.
It manufacture 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.
Nova Agri Tech Limited emerged as one of the market leaders in its segment by developing R&D teams who constantly strive to innovate products that maintain the finest quality standards, both in manufacturing undertakings and in formulations. Our well-equipped R&D facilities are backed up by other departments through a responsive process that ensures that successful results of research to reach farmer community.
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.
Nova AgriTech IPO price band is set at ₹39 to ₹41 per share. The minimum lot size for an application is 365 Shares. The minimum amount of investment required by retail investors is ₹14,965. The minimum lot size investment for sNII is 14 lots (5,110 shares), amounting to ₹209,510, and for bNII, it is 67 lots (24,455 shares), amounting to ₹1,002,655.
Nova AgriTech IPO is a book built issue of Rs 143.81 crores. The issue is a combination of fresh issue of 2.73 crore shares aggregating to Rs 112.00 crores and offer for sale of 0.78 crore shares aggregating to Rs 31.81 crores.
Objects of the Issue
The net proceeds of the Fresh Offer, i.e. gross proceeds of the Fresh Offer less the offer expenses apportioned to the company ("Net Proceeds") are proposed to be utilised in the following manner:
- Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant;
- Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant;
- Funding of working capital requirements of the company;
- Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements; and
- General corporate purposes.
Key Performance Indicator
KPI Values ROE 38.27% ROCE 27.25% Debt/Equity 1.11 RoNW 32.08% P/BV 4.06
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| P/BV | 4.06 |
Nova AgriTech IPO Details
| IPO Date | January 23, 2024 to January 25, 2024 |
| Listing Date | Wednesday, 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 |
Nova AgriTech IPO Timeline (Tentative Schedule)
| 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 |
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