Nova AgriTech IPO

Nova AgriTech IPO will open for subscription from 23 January 2024. The company aims for an issue size of ₹143.81 Cr through this IPO.

Company Overview

Full nameNova AgriTech Limited
IndustryPesticides & Agrochemicals
Company Website

About Company

Nova Agritech is a prominent agri-input manufacturer specializing in providing products dedicated to soil health management, crop nutrition, and crop protection. Nova Agritech engages in the manufacturing, distribution, and marketing of an extensive array of product categories, encompassing (a) products for soil health management; (b) crop nutrition products; (c) biostimulant products; (d) biopesticide products; (e) Integrated Pest Management (IPM) products; (f) innovations in technology; and (g) crop protection products. Notably, the production of crop protection products is currently carried out by its subsidiary, Nova Agri Sciences Private Limited.

As of 31 January  2023, Nova Agri has obtained 629 product registrations. These include 7 registrations in the soil health management category, 168 registrations in the crop nutrition category, 4 registrations in the bio-pesticide category, and 450 registrations in the crop protection category. The company applied for 26 new registrations in the name of Nova Agritech Limited (NATL).

Nova Agritech boasts an extensive dealer network, totaling approximately 10,900 dealers. Among these, around 6,200 dealers are actively engaged, having received product distributions and sales during the ongoing financial year. This robust network spans 16 states in India, namely Andhra Pradesh, Telangana, Maharashtra, Karnataka, Madhya Pradesh, Rajasthan, Chhattisgarh, Tamil Nadu, Uttar Pradesh, Odisha, West Bengal, Bihar, Gujarat, Jharkhand, Uttarakhand, and Jammu & Kashmir, with an additional presence in Nepal. The company has forged marketing, distribution, and supply agreements with specific third parties in Bangladesh, Sri Lanka, and Vietnam.

The Objectives of the Issue

  • 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 IPO Timetable

IPO Opening date23 January 2024
IPO Closing25 January 2024
Basis of Allotment29 January 2024
Initiation Refund30 January 2024
Credit to Demat Account30 January 2024
Listing Date31 January 2024
(Cut-off time for UPI mandate confirmation – 5 PM on January 25, 2024)

Nova AgriTech IPO details

Issue typeBook Built Issue IPO
IPO issue size₹143.81 Cr – 35,075,693 shares
Fresh Issue₹112 Cr – 27,317,073 shares
Offer for sale₹31.81 Cr – 7,758,620 shares
Face value₹02 per share
Price Band ₹39 to ₹41 per share
Lot size365 Shares
Shareholding pre-issue65,202,740
Shareholding post-issue92,519,813
Listing ExchangeBSE & NSE

Nova AgriTech IPO Lot Size

Retail (Min)1365₹14,965
Retail (Max)134745₹194,545
S-HNI (Min)145,110₹209,510
S-HNI (Max)6624,090₹987,690
B-HNI (Min)6724,455₹1,002,655

Nova AgriTech IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Nova AgriTech Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income6.3013.6920.4910.38
Margin (%)3.927.389.7310.06
(Amount in ₹ Crores)

Nova AgriTech Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio11.93 – 12.54
RONW (%)21.4131.6932.08
ROCE (%)19.8723.8127.25
EBITDA (%)11.0814.9718.39

Company Promoters

  • Suraksha Agri Retails (India) Private Limited
  • Malathi S
  • Kiran Kumar Atukuri.

Promoter Holding

Pre Issue Share Holding84.27%
Post Issue Share Holding

Nova AgriTech Lead Manager(s)

  • Keynote Financial Services Ltd
  • Bajaj Capital Limited

Nova AgriTech Registrar

S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200

Nova AgriTech Contact Details

Sy.No. 251/A/1, Singannaguda Village,
Mulugu Mandal, Siddipet, Medak, Telangana – 502279
Phone: +91 84 54253446

Nova AgriTech IPO Allotment Status

Nova Agri IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.

Final thoughts

Nova AgriTech IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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