Nova AgriTech Limited IPO is set to launch on 23 January, 2024. The company initiated its business operations in the year 2007. The company is involved in manufacturing products that are used in agriculture especially for farmers to boost up their yield. It makes products based on three things namely Plant nutrition, soil health and crop protection. Product category of the company comprises crop nutrition products, soil health products, biostimulants, biopesticides, new technologies, integrated pest management, and crop protection products. The crop production products are currently developed by the company’s subsidiary Nova Agri Sciences Limited. Till date the company has 629 products registrations and they are divided into 4 categories. They are Plant nutrition, soil health management, crop protection and biopesticides. Currently the company has 13 Kisan Mitras and 253 Kisan Sevaks. The company employs 215 people.
Nova AgriTech Limited IPO DETAILS
Nova AgriTech Limited IPO is set to launch on 23 January, 2024. The subscription timeline extends till 25 January, 2024. The size for the IPO is 143.81 Crore Rs. Shares issued through fresh issue mode are worth Rs 112 Crore. Shares issued through offer for sale mode are worth Rs 31.81 Crore. The lot size is 365 shares and the price is 39 Rs to 41 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 2 and this is a Book Built issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Nova AgriTech Limited IPO
| IPO OPENING DATE | 23 January, 2024 |
| CLOSING DATE FOR IPO | 25 January, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 2 Rs. per share |
| IPO price band | 39 Rs. to 41 Rs. per share |
| LOT SIZE | 365 shares |
| MINIMUM ORDER QUANTITY | 365 shares |
| ISSUE SIZE | 143.81 Crore Rs. |
| OFFER FOR SALE | 31.81 Crore Rs. |
| FRESH ISSUE | 112 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 31 January, 2024 |
Nova AgriTech Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 23 January, 2024 |
| CLOSING DATE FOR IPO | 25 January, 2024 |
| IPO ALLOTMENT DATE | 29 January, 2024 |
| REFUNDS | 30 January, 2024 |
| DEMAT A/C CREDITED ON | 30 January, 2024 |
| IPO LISTING DATE | 31 January, 2024 |
Nova AgriTech Limited IPO begins for subscription from 23 January, 2024. The IPO subscription would continue till 25 January, 2024. The allotment status for the shareholders who applied would come on 29 January, 2024. The refunds for the ones who did not get allotment would be initiated on 30 January, 2024. The DEMAT accounts of shareholders would be credited on 30 January, 2024. The listing of the company would be completed on 31 January, 2024.
Nova AgriTech Limited IPO : Lead Managers
The lead managers are :
- Bajaj Capital Limited
- Keynote Financial Services Limited
The minimum lot size for the company is decided at 365 shares. This holding accounts to 14965 Rs.. The maximum lot size is decided at 4745 shares. This amounts to 194545 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 365 shares | 14965 Rs. |
| Maximum | 4745 shares | 194545 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- With the IPO money the company might pay its outstanding loans.
- The IPO money will be used for investment into the company’s subsidiary Nova Agri Private Limited.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 147 | 160 | 181 |
| Revenue | 160 | 185 | 210 |
| PAT | 6 | 13 | 20 |
Nova AgriTech Limited had an asset base of 147 Crore Rs in 2021 which increased to 160 Crore Rs in 2022. The asset base of the company was 181 Crore Rs in 2023. The revenue of the firm was 160 Crore Rs in 2021 which increased to 185 Crore Rs in 2022 and 210 Crore Rs in 2023. The profit of the firm was 6 Crore Rs in 2021 which increased to 13 Crore Rs in 2022 and 20 Crore Rs in 2023.
PROS
- It makes products based on three things namely Plant nutrition, soil health and crop protection.
- Product category of the company comprises crop nutrition products, soil health products, biostimulants, biopesticides, new technologies, integrated pest management, and crop protection products.
- The crop production products are currently developed by the company’s subsidiary Nova Agri Sciences Limited.
- Till date the company has 629 products registrations and they are divided into 4 categories. They are Plant nutrition, soil health management, crop protection and biopesticides.
- Currently the company has 13 Kisan Mitras and 253 Kisan Sevaks.
- The company employs 215 people.
Nova AgriTech Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Nova AgriTech Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
