Nova AgriTech Limited IPO
Basic information about the company:
Established in May 2007, the company has been at the forefront of developing and providing innovative solutions focused on soil health, plant nutrition, and crop protection. As it embarks on this exciting IPO journey, let's delve into the key aspects of Nova AgriTech and the opportunities it presents for both farmers and investors.
Nova AgriTech is dedicated to manufacturing environmentally friendly and technologically advanced products that enhance crop yield and quality. The company collaborates closely with farmers, tailoring solutions to meet their specific needs. Nova AgriTech's product range encompasses soil health products, crop nutrition, biostimulants, biopesticides, integrated pest management (IPM) products, new technologies, and crop protection products. Product Registrations: As of January 31, 2023, Nova AgriTech boasts an impressive total of 629 product registrations across four key categories: soil health management, plant nutrition, biopesticides, and crop protection. This includes 7 registrations for soil health management, 168 for plant nutrition, 4 for biopesticides, and a substantial 450 registrations for crop protection products. Promoter Holding: The company is backed by dedicated promoters, including Suraksha Agri Retails (India) Private Limited, Malathi S, and Kiran Kumar Atukuri. The pre-issue shareholding stands at 84.27%, which is expected to reduce to 59.39% post-issue. Objects of the Issue: The funds raised through the IPO will be strategically utilized for:
Investment in Subsidiary: Nova Agri Sciences Private Limited will receive funding to establish a new formulation plant, enhancing the company's production capabilities.
Working Capital Requirements: A portion of the proceeds will be allocated to meeting the company's working capital needs, ensuring smooth operational efficiency.
General Corporate Purposes: The remaining funds will be utilized for general corporate purposes, providing flexibility for future growth initiatives.
Nova AgriTech IPO
IPO Date: 23 to 25 Jan 2024
Price Band: ₹39 to ₹41 per share
Lot Size: 365 Shares
Issue Size: 143.81 Crs
Retail Quota: 35%
GMP: +30% (Only for information)
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