Nova Agritech was incorporated on May 9, 2007. The company is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on a tech-based farmer-driven solution approach, wherein it mainly offers ecologically sustainable and nutritionally balanced products based on its R&D. It manufactures, distributes and markets a wide range of product categories consisting of soil health management products, crop nutrition products, biostimulant products, biopesticide products, Integrated Pest Management products, new technologies, and crop protection products.
| Bidding Dates |
|---|
| 23 Jan 2024 - 25 Jan 2024 |
| Subscription |
|---|
| 109.37x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,235 | 1 | 13 | 365 | 35.1 M | ₹39 - ₹41 | 51 % | ₹1368.0 M - ₹1438.1 M | RHP DOC |
Nova Agritech IPO SUBSCRIPTION STATUS
25 Jan '24Nova Agritech IPO overall subscription rate was 109.37 times the total available shares
Nova Agritech IPO retail subscription rate was 77.12 times in the retail segment
Nova Agritech IPO non-institutional investor subscription rate was 224.08 times in the non-institutional investor category
Nova Agritech IPO Qualified Institutional Bidder subscription rate was 79.31 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Jan 2024 (Day 3) | 77.12x | 224.08x | 79.31x |
24 Jan 2024 (Day 2) | 36.26x | 71.23x | 1.12x |
23 Jan 2024 (Day 1) | 12.77x | 14.68x | 0.62x |
Nova Agritech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 103.8 | 1,032.2 | 50.4 | 47.6 | 18.8% |
| FY23 | 204.9 | 2,105.6 | 54.5 | 31.8 | 18.4% |
| FY22 | 136.9 | 1,855.7 | 24.8 | -15.7 | 15.0% |
| FY21 | 63.0 | 1,605.8 | 51.8 | 21.1 | 11.1% |
Nova Agritech IPO SUBSCRIPTION STATUS DETAILS
Nova Agritech had 35.1 M shares on offer
Nova Agritech IPO offer price was in the range ₹39 - ₹41
Nova Agritech IPO minimum Investment was ₹14235
Nova Agritech IPO issue size was ₹ 1368.0 M - ₹ 1438.1 M
Nova Agritech had a minimum lot size of 365 Shares per application
Nova Agritech NUMBER OF SHARES ON OFFER
Nova Agritech IPO IMPORTANT DATES
| Issue Open Date | 23 Jan 2024 |
| Issue close Date | 25 Jan 2024 |
| Allotment Date | 29 Jan 2024 |
| Refund Date | 30 Jan 2024 |
| Demat Account Credit Date | 30 Jan 2024 |
| Listing Date | 31 Jan 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Nova Agritech Allotment Status | Exchange |
Nova Agritech IPO subscription opened on 23 Jan 2024, and closed on 25 Jan 2024
IPO allotment for Nova Agritech was finalized on Monday, 29 Jan 2024
IPO listing for Nova Agritech was on NSE and BSE on Wednesday, 31 Jan 2024
Nova Agritech IPO LISTING GAINS
| Issue Price (adjusted) | 41.0 |
| Listing Open Price | 55.0 |
| Listing Close Price | 57.8 |
| Listing Gain% | 34.1% |
| Current Gain% | -43.5% |
Nova Agritech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nova Agritech Ltd. | 23.2 | 214.5 | 16.7 | -0.3 | 0.8 | 5.5 | 3.7 | 261.8 | -11.7 | 12.8 | -53.2 | 1.4 | -53.2 |
| Coromandel International Ltd. | 2069.3 | 61047.7 | 33.3 | -1.8 | 1.9 | 15.6 | 8 | 31827.4 | 30.2 | 1956.2 | -5.3 | 62.1 | -19 |
| The Fertilisers and Chemicals Travancore Ltd. | 839.4 | 54315.2 | -1371.6 | 7 | 9.5 | -2.9 | -0.7 | 5900.1 | 38.3 | -39.6 | -196 | -0.6 | -196 |
| Chambal Fertilisers & Chemicals Ltd. | 450.7 | 18057.4 | 9.4 | 0.9 | 0.9 | 18.8 | 13.6 | 20920.5 | 24.1 | 1953.4 | 18.4 | 48.1 | 10.2 |
| Paradeep Phosphates Ltd. | 149.4 | 15515.5 | 14.5 | 0.4 | 0.7 | 14.7 | 5.6 | 21972.9 | 57.7 | 996.4 | 80.6 | 10.3 | 33.6 |
| Gujarat Narmada Valley Fertilizers & Chemicals Ltd. | 535.5 | 7868.7 | 7.6 | 0.1 | 0.9 | 8.9 | 7.1 | 8272 | -1.4 | 808 | 35.2 | 70.6 | 84.5 |
Nova Agritech IPO Reports
Nova Agritech INFORMATION ON IPO ISSUE
About Nova Agritech
Nova Agritech was incorporated on May 9, 2007. The company is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on a tech-based farmer-driven solution approach, wherein it mainly offers ecologically sustainable and nutritionally balanced products based on its R&D. It manufactures, distributes and markets a wide range of product categories consisting of soil health management products, crop nutrition products, biostimulant products, biopesticide products, Integrated Pest Management products, new technologies, and crop protection products.
Object of the Issue
- Investment in the subsidiary, Nova Agri Sciences for setting-up a new formulation plant
- Funding capital expenditure in the company, towards expansion of its existing formulation plant
- Funding of working capital requirements of the company
- Investment in our subsidiary, Nova Agri Sciences, for funding working capital requirements
- General corporate purposes
Nova Agritech - PROMOTERS
| Name |
|---|
| Suraksha Agri Retails (India) Private Limited |
| Malathi S |
| Kiran Kumar Atukuri |
Nova Agritech Book Running Lead Manager
Keynote Financial Services Limited
mbd@keynoteindia.net
Bajaj Capital Limited
info@bajajcapital.com
Nova Agritech Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Nova Agritech Strengths
One-stop solution
The company provides a one-stop solution for soil health management, crop nutrition, biostimulants, biopesticides, integrated pest management and crop protection through a diversified branded product portfolio
Established distribution channel
The company markets, sells and distributes its wide range of products to farmers across India with the help of an established distribution channel of dealers spread across various states. It has a total dealer network comprising of approximately 10,900 dealers
Farmer outreach program
The company runs a farmer outreach program called Nova Kisan Seva Kendra program, through which it educates farmers on various crop management practices
Nova Agritech Risks
Legal proceedings
The company, its subsidiaries, promoters and directors are involved in certain legal proceedings and potential litigation. Any adverse decision in such proceedings may lead to liabilities/penalties and adverse effect on the business
Negative cash flow
The company has had negative cash flow during certain fiscal years. Sustained negative cash flow could adversely impact the business, financial condition and results of operations
Climatic conditions
The company's business is subject to climatic conditions. Seasonal variations and unfavourable weather patterns may have an adverse effect on the business, results of operations and financial condition
IPO FAQs
This IPO consists of an offer for sale of up to Rs 31.8 crore, of 7,758,620 shares. It also consists of a fresh issue of Rs 112.0 crore.
The promoters of the company are Suraksha Agri Retails (India) Private Limited, Malathi S and Kiran Kumar Atukuri.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 39.0 - 41.0.
The IPO application opens on Jan 23, 2024 and closes on Jan 25, 2024.
The minimum lot size for the IPO is 365. The maximum lot size for the IPO is 4745.
For all category investors, the minimum application amount for this IPO is Rs. 14,235.0, the maximum value for this IPO is Rs 194,545.0.
This IPO will be allotted on Jan 29, 2024.
The refund will be credited to your account on Jan 30, 2024.
The allotted shares will be credited to your demat on Jan 30, 2024.
Nova Agritech Ltd.’s shares listed on the stock exchanges on Jan 31, 2024.