Nova AgriTech Limited IPO

23 Jan 2024 - 25 Jan 2024 Individual Category IPO NSE

Min Investment

₹14965

Price Band

₹39-₹41

Issue Size

350.76 lakhs
Equity Shares

Lot Size

365

IPO Dates
img

23 Jan 2024

Open Date

img

25 Jan 2024

Close Date

img

29 Jan 2024

Allotment Date

img

31 Jan 2024

Listing Date

The upcoming Initial Public Offering (IPO) of Nova AgriTech is structured as a book-built issue featuring a fresh issuance of shares valued at Rs 140.00 crore, accompanied by an offer for the sale of 0.78 crore shares. The Nova AgriTech IPO is scheduled from January 23, 2024, to January 25, 2024. The price band for the IPO is set at ₹39 to ₹41 per share. The IPO's book-running lead managers include Keynote Financial Services Ltd and Bajaj Capital Limited, with Bigshare Services Pvt Ltd appointed as the registrar for the issue.

Know Before Investing

Strengths icon

Weaknesses icon

About Nova Agritech Limited Ipo

Established in May 2007 and based in Hyderabad, Nova AgriTech Limited is a company dedicated to enhancing agricultural practices. Their primary focus lies in three critical areas: enhancing soil health, improving plant nutrition, and providing effective crop protection. Nova AgriTech prides itself on leveraging advanced technology to produce products that are both environmentally sustainable and nutritionally beneficial. The company works closely with farmers, engaging with them to understand their unique needs and subsequently creating tailored solutions. Nova AgriTech boasts a diverse product portfolio that includes soil health enhancers, crop nutritionals, biostimulants, biopesticides, integrated pest management products, innovative new technologies, and crop protection solutions. Its subsidiary, Nova Agri Sciences Private Limited, specifically handles the production of crop protection products. As of January 31, 2023, Nova AgriTech has achieved a significant milestone with 629 product registrations across various categories. These registrations span soil health management (7 registrations), plant nutrition (168 registrations), biopesticides (4 registrations), and crop protection (450 registrations). This diverse range underscores the company's commitment to comprehensive agricultural solutions. The company also places a strong emphasis on direct engagement with the farming community. By January 2023, it had established a network of 13 Kisan Mitras and 253 Kisan Sevaks. Additionally, Nova AgriTech employs a team of 32 NKSK Coordinators, all of whom hold degrees in Agricultural Sciences and are full-time employees. The NKSK program, which includes NKSK Coordinators, Kisan Mitras, and Kisan Sevaks, is designed to facilitate personal interactions with farmers at the grassroots level. To support its vast range of products, Nova AgriTech has a dedicated sales team of 215 members. This team is responsible for managing the brand's sales, overseeing distribution channels, and promoting the products effectively. This robust team plays a crucial role in maintaining the company's strong presence in the agricultural sector.

Founded

2007

Managing Director

Kiran Kumar Atukuri

Parent Organization

IPO Objectives

The net income from the Fresh Offer, which is the total revenue generated from it minus the expenses related to the offer allocated to the company, is planned to be allocated in several key areas: Firstly, a portion of these funds is intended for investment in Nova Agri Sciences Private Limited, a subsidiary of the company, specifically for the construction of a new formulation plant. Additionally, part of the net proceeds will be used for capital expenditure within the company itself, aimed at expanding the capacity of the existing formulation plant. Another significant allocation of the funds will be towards bolstering the company's working capital, ensuring smooth operations and growth. Moreover, investment is also planned in Nova Agri Sciences Private Limited to support its working capital needs. Lastly, a portion of the net proceeds is earmarked for general corporate purposes, facilitating various operational and strategic initiatives of the company.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
img

How to Apply for IPO

img img

Login

Login to your Bigul Account

Select Lots & Price

Choose the number of lots and price

UPI ID

Enter your UPI ID

UPI Mandate Request

A UPI Mandate Request Triggered

Approve Mandate

Approve the UPI Mandate Request

IPO Allotment

YES Share will be credited. and the amount will be debited

Close

Let's Open Free Demat Account