IPO Details
Bidding Dates
23 Jan '24 - 25 Jan '24
Minimum Investment
₹14,965 / 1 Lots ( 365 Shares )
Price Range
₹39 - ₹41
Maximum Investment
₹194,545 / 13 Lots ( 4745 Shares )
Retail Discount
Not Applicable
Issue Size
₹143.81 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jan 23, 2024
IPO Closing Date
Jan 25, 2024
Basis of Allotment
Jan 29, 2024
Initiation of Refunds
Jan 30, 2024
Credit of Shares to Demat Account
Jan 30, 2024
IPO Listing Date
Jan 31, 2024
UPI Mandate Expiry Date
Jan 25, 2024
About Nova Agritech Limited
Nova Agritech Limited is an agri-input manufacturer. The company manufactures, distributes, and markets soil health management solutions, crop nutrition and protection products, and other products. They are focused on a tech-based, farmer-driven solution approach. They mainly offer ecologically sustainable and nutritionally balanced products based on their research and development. The company’s crop protection products are manufactured by its subsidiary, Nova Agri Sciences Private Limited.
Nova Agritech has an active dealer network comprising ~6,700 dealers. The network is spread across 16 states of India, namely, Telangana, Andhra Pradesh, Madhya Pradesh, Maharashtra, Karnataka, Rajasthan, etc. The company has also entered into marketing, distribution, and supply agreements with third parties in Bangladesh, Vietnam and Sri Lanka and is awaiting permission to start a business in these jurisdictions.
The biopesticides sector, encompassing microorganisms, biochemicals, and microbials for pest control, operates in an eco-friendly manner. From 2018-19 to 2022-23, domestic biopesticide consumption saw a marginal rise, reaching 7.25 thousand tonnes. This growth, fueled by the organic farming trend, aligns with India's pursuit of a USD 5 trillion economy by 2025. The agrochemical industry, witnessing a robust 8.8% CAGR in outbound shipments from 2016-17 to 2020-21, anticipates around ₹385 billion in exports by 2025. Nova Agritech Limited can capitalise on this positive industry outlook.
Nova Agritech Limited IPO Details
Nova Agritech Limited IPO Date
Nova Agritech Limited’s IPO will open on January 23, 2024, and close on January 25, 2024. The IPO will be listed on the NSE and BSE on January 30, 2024.
Nova Agritech Limited IPO Price Band
Nova Agritech Limited is a fresh issue and Offer for Sale. The price of the IPO is ₹ 39 - 41.
Nova Agritech Limited IPO Lot Size
Nova Agritech Limited’s IPO lot size is 365 shares.
Nova Agritech Limited IPO Objectives
The objectives of Nova Agritech Limited's IPO are listed below:
- Investing in Nova Agri Sciences Pvt Ltd (a subsidiary of Nova Agritech Ltd) to establish a new formulation plant.
- Financing the expansion of their current formulation plant.
- Supporting the working capital requirements of Nova Agritech Ltd and its subsidiary.
- Meeting general corporate purposes.
Peer Details
As per DRHP, the listed peers whose business portfolio is comparable to the company are as follows:
- Aries Agro Ltd
- Aimco Pesticides Limited
- Basant Agrotech Limited
- Best Agrolife Limited
- Bhagiradha Chemicals & Industries Ltd
- Heranba Industries Limited
- India Pesticides Limited
- Madras Fertilizers Limited
- Dharmaj Crop Guard Limited
How To Check the Nova Agritech Limited Allotment Status?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Open a demat account with Angel One to apply for the Nova Agritech Limited IPO.
Contact Details of Nova Agritech Limited IPO
- Registered office: Sy.No.251/A/1, Singannaguda Village, Mulugu Mandal, Siddipet, Medak, Telangana – 502279.
- Phone: +91 84 54253446
- E-mail: ipo@novaagri.in
Company Financials
| Particulars (₹ lakh) | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Revenue from Operations | 21,055.54 | 18,556.77 | 16,057.74 |
| Profit After Tax (PAT) | 2,048.95 | 1,368.93 | 630 |
| Net Worth | 6,387.97 | 4,319.11 | 2,942.98 |
| Total Borrowings | 7,095.51 | 6,426.55 | 5,110.19 |
| EPS (in ₹) | 3.27 | 2.18 | 1.00 |
Know before investing
Strengths
2-
The company offers a comprehensive product portfolio that caters to soil health management, crop nutrition, biostimulants, biopesticides, integrated pest management, and crop protection needs. Its products are branded and diversified, providing a one-stop solution to farmers in India.
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To reach its customers, the company has an established distribution network of dealers in different states, enabling it to market, sell, and distribute its products efficiently.
Risks
2-
The company, along with its subsidiaries, promoters, and directors, is facing legal proceedings and potential litigation that may result in liabilities, penalties, and negative effects on its business.
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The company has experienced negative cash flow in some fiscal years, and if this continues, it could have a detrimental impact on its financial condition, operations, and overall business performance.
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Nova Agritech Ltd IPO FAQs
Nova Agritech Limited is a fresh issue and Offer for Sale. The price of the IPO is ₹ 39 – ₹ 41. The IPO will open on January 23, 2023.
The Basis of Allotment will happen on Thursday, January 25, 2024.
The IPO subscription window will open on Tuesday, January 23, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 365 shares.
Nova Agritech Ltd IPO will be listed on the NSE and BSE on Tuesday, January 30, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Tuesday, January 30, 2024, for Nova Agritech Ltd.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
