Nova AgriTech IPO is a book built issue of Rs 143.81 crores. The issue is a combination of fresh issue of 2.73 crore shares aggregating to Rs 112.00 crores and offer for sale of 0.78 crore shares aggregating to Rs 31.81 crores.
Nova AgriTech IPO opens for subscription on January 22, 2024 and closes on January 24, 2024. The allotment for the Nova AgriTech IPO is expected to be finalized on Thursday, January 25, 2024. Nova AgriTech IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, January 30, 2024.
Nova AgriTech IPO price band is set at ₹39 to ₹41 per share. The minimum lot size for an application is 365 Shares. The minimum amount of investment required by retail investors is ₹14,965. The minimum lot size investment for sNII is 14 lots (5,110 shares), amounting to ₹209,510, and for bNII, it is 67 lots (24,455 shares), amounting to ₹1,002,655.
Keynote Financial Services Ltd and Bajaj Capital Limited are the book running lead managers of the Nova AgriTech IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Nova AgriTech IPO RHP for detailed information.
Nova AgriTech IPO Details
| IPO Date | January 22, 2024 to January 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹39 to ₹41 per share |
| Lot Size | 365 Shares |
| Total Issue Size | 35,075,693 shares (aggregating up to ₹143.81 Cr) |
| Fresh Issue | 27,317,073 shares (aggregating up to ₹112.00 Cr) |
| Offer for Sale | 7,758,620 shares of ₹2 (aggregating up to ₹31.81 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 65,202,740 |
| Share holding post issue | 92,519,813 |
Nova AgriTech IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Nova AgriTech IPO Timeline (Tentative Schedule)
Nova AgriTech IPO opens on January 22, 2024, and closes on January 24, 2024.
| IPO Open Date | Monday, January 22, 2024 |
| IPO Close Date | Wednesday, January 24, 2024 |
| Basis of Allotment | Thursday, January 25, 2024 |
| Initiation of Refunds | Monday, January 29, 2024 |
| Credit of Shares to Demat | Monday, January 29, 2024 |
| Listing Date | Tuesday, January 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 24, 2024 |
Nova AgriTech IPO Lot Size
Investors can bid for a minimum of 365 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 365 | ₹14,965 |
| Retail (Max) | 13 | 4745 | ₹194,545 |
| S-HNI (Min) | 14 | 5,110 | ₹209,510 |
| S-HNI (Max) | 66 | 24,090 | ₹987,690 |
| B-HNI (Min) | 67 | 24,455 | ₹1,002,655 |
| Lot Size Calculator | |||
Nova AgriTech IPO Promoter Holding
The promoters of the company are Suraksha Agri Retails (India) Private Limited, Malathi S, and Kiran Kumar Atukuri.
| Share Holding Pre Issue | 84.27% |
| Share Holding Post Issue |
About Nova AgriTech Limited
Founded in Hyderabad in May 2007, Nova AgriTech Limited manufactures products that help farmers grow crops better. The main focus is on three things: Soil health, plant nutrition and crop protection. The products are manufactured using technology and are designed to be environmentally friendly and nutritious. The company collaborates with farmers to gain insight into their needs and develop customized solutions that meet their requirements.
The company manufactures, distributes and markets a broad range of product categories, including (a) soil health products, (b) crop nutrition products, (c) biostimulants, (d) biopesticides, (e) integrated pest management (IPM) products, (f) new technologies and (g) crop protection products. The subsidiary Nova Agri Sciences Private Limited is currently responsible for the production of crop protection products.
As of January 31, 2023, the company has received a total of 629 product registrations. These registrations are divided into four categories, namely soil health management, plant nutrition, biopesticides and crop protection. These include 7 registrations in the soil health management category, 168 registrations in the plant nutrition category, 4 registrations in the biopesticide category and 450 registrations in the crop protection category.
By January 31, 2023, the company has 13 Kisan Mitras and 253 Kisan Sevaks at its base.
As on January 31, 2023, the Company has a team of 32 NKSK Coordinators, all of whom have a degree in Agricultural Sciences and are on the Company’s payroll.The NKSK program comprises three levels: NKSK Coordinators, Kisan Mitras and Kisan Sevaks. This ensures personal contact with the farmers at the grassroots level.
The company employs 215 people in its sales team. They manage brand sales, distribution channels, and product promotion.
Nova AgriTech Limited Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 22 Mar 2022 | 31 Mar 2021 |
| Assets | 196.37 | 180.78 | 160.30 | 147.44 |
| Revenue | 103.24 | 210.93 | 185.61 | 160.93 |
| Profit After Tax | 10.38 | 20.49 | 13.69 | 6.30 |
| Net Worth | 74.23 | 63.88 | 43.19 | 29.43 |
| Reserves and Surplus | 60.97 | 50.59 | 30.10 | 16.41 |
| Total Borrowing | 68.50 | 70.96 | 64.27 | 51.10 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Nova AgriTech IPO is Rs 379.33 Cr.
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| P/BV | 0 |
Check Nova AgriTech IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.14 | 2.24 |
| P/E (x) | 13.05 | 18.27 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Nova AgriTech IPO Objectives)
The net proceeds of the Fresh Offer, i.e. gross proceeds of the Fresh Offer less the offer expenses apportioned to the company (“Net Proceeds”) are proposed to be utilised in the following manner:
- Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant;
- Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant;
- Funding of working capital requirements of the company;
- Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements; and
- General corporate purposes.
Nova AgriTech Limited Contact Details
Nova AgriTech Limited
Sy.No.251/A/1, Singannaguda Village
Mulugu Mandal
Siddipet, Medak- 502279
Phone: +91 84 54253446
Email: ipo@novaagri.in
Website: https://novaagri.in/
Nova AgriTech IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html