Nova AgriTech Limited IPO Date, Review, Price, Allotment Details

Nova AgriTech Limited is planning an Initial Public Offering (IPO) as a book-built issue, comprising a fresh issue of Rs 112.00 crore and an offer for sale of 0.78 crore shares. The IPO subscription period is scheduled to be from January 22, 2024, to January 24, 2024, with allotment likely on Thursday, January 25, 2024. The company anticipates listing on both BSE and NSE, with a tentative listing date set for Tuesday, January 30, 2024.

However, the price bands for Nova AgriTech IPO are yet to be disclosed.

Keynote Financial Services Ltd and Bajaj Capital Limited are the appointed book running lead managers, while Bigshare Services Pvt Ltd will serve as the registrar for the issue.

**Nova AgriTech IPO Details:**
– **IPO Date:** January 22, 2024, to January 24, 2024
– **Listing Date:** [Not specified] – **Face Value:** ₹2 per share
– **Price:** [Not specified] – **Lot Size:** [Not specified] – **Total Issue Size:** [Not specified] – **Fresh Issue:** ₹112.00 crore
– **Offer for Sale:** 7,758,620 shares of ₹2

**Nova AgriTech IPO Reservation:**

– **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:**

– **IPO Opens:** January 22, 2024
– **IPO Closes:** January 24, 2024
– **Basis of Allotment:** January 25, 2024
– **Refund Initiation:** January 29, 2024
– **Credit of Shares to Demat:** January 29, 2024
– **Listing Date:** January 30, 2024

– **Cut-off time for UPI mandate confirmation:** 5 PM on January 24, 2024

**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%

**About Nova AgriTech Limited:**
Nova AgriTech Limited, established in Hyderabad in May 2007, is focused on manufacturing products to enhance crop growth. Its main emphasis is on soil health, plant nutrition, and crop protection. The company collaborates with farmers to create environmentally friendly and nutritious solutions. Nova AgriTech produces various product categories such as soil health products, crop nutrition products, biostimulants, biopesticides, integrated pest management (IPM) products, and crop protection products.

As of January 31, 2023, the company has 13 Kisan Mitras, 253 Kisan Sevaks, and 32 NKSK Coordinators, ensuring direct contact with farmers at various levels. The IPO aims to utilize the funds for purposes such as setting up a new formulation plant, expanding the existing formulation plant, funding working capital requirements, and general corporate purposes.

**Nova AgriTech Limited Financial Information (Restated Consolidated):**
– **Period Ended:** 30 Sep 2023, 31 Mar 2023, 22 Mar 2022, 31 Mar 2021
– **Assets:** ₹196.37 crore, ₹180.78 crore, ₹160.30 crore, ₹147.44 crore
– **Revenue:** ₹103.24 crore, ₹210.93 crore, ₹185.61 crore, ₹160.93 crore
– **Profit After Tax:** ₹10.38 crore, ₹20.49 crore, ₹13.69 crore, ₹6.30 crore
– **Net Worth:** ₹74.23 crore, ₹63.88 crore, ₹43.19 crore, ₹29.43 crore
– **Reserves and Surplus:** ₹60.97 crore, ₹50.59 crore, ₹30.10 crore, ₹16.41 crore
– **Total Borrowing:** ₹68.50 crore, ₹70.96 crore, ₹64.27 crore, ₹51.10 crore

**Key Performance Indicators (KPI):**
– **ROE:** 10.8%
– **ROCE:** 18.4%
– **Debt/Equity:** 1.11
– **RoNW:** 32.08%

The IPO prospectus, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP), contains detailed information for potential investors. Investors are encouraged to rely on a thorough analysis of the company’s financials and fundamentals rather than solely on speculative indicators like grey market sentiments.

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