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 name | Nova AgriTech Limited |
| Sector | Chemicals |
| Industry | Pesticides & Agrochemicals |
| Company Website | https://novaagri.in/ |
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 date | 23 January 2024 |
| IPO Closing | 25 January 2024 |
| Basis of Allotment | 29 January 2024 |
| Initiation Refund | 30 January 2024 |
| Credit to Demat Account | 30 January 2024 |
| Listing Date | 31 January 2024 |
Nova AgriTech IPO details
| Issue type | Book 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 size | 365 Shares |
| Shareholding pre-issue | 65,202,740 |
| Shareholding post-issue | 92,519,813 |
| Listing Exchange | BSE & NSE |
Nova AgriTech IPO Lot Size
| 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 |
Nova AgriTech IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Nova AgriTech Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 160.58 | 185.57 | 210.56 | 103.22 |
| Expenses | 152.26 | 167.17 | 182.77 | 89.21 |
| Net income | 6.30 | 13.69 | 20.49 | 10.38 |
| Margin (%) | 3.92 | 7.38 | 9.73 | 10.06 |
Nova AgriTech Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.00 | 2.18 | 3.27 |
| PE ratio | – | – | 11.93 – 12.54 |
| RONW (%) | 21.41 | 31.69 | 32.08 |
| NAV | 4.69 | 6.89 | 10.19 |
| ROCE (%) | 19.87 | 23.81 | 27.25 |
| EBITDA (%) | 11.08 | 14.97 | 18.39 |
| Debt/Equity | 1.74 | 1.49 | 1.11 |
Company Promoters
- Suraksha Agri Retails (India) Private Limited
- Malathi S
- Kiran Kumar Atukuri.
Promoter Holding
| Pre Issue Share Holding | 84.27% |
| Post Issue Share Holding |
Nova AgriTech Lead Manager(s)
- Keynote Financial Services Ltd
- Bajaj Capital Limited
Nova AgriTech Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Nova AgriTech Contact Details
NOVA AGRITECH LIMITED
Sy.No. 251/A/1, Singannaguda Village,
Mulugu Mandal, Siddipet, Medak, Telangana – 502279
Phone: +91 84 54253446
Email: ipo@novaagri.in
Website: www.novaagri.in
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
