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20 Nov 2024
Nova Agritech Limited IPO
Nova Agritech Ltd. (NAL) is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer driven solution approach, wherein it mainly offers ecologically sustainable and nutritionally balanced products based on Research and Development. The company manufactures, distributes and market a wide range of product categories consisting of:
- (a) Soil health management products
- (b) Crop nutrition products
- (c) Biostimulants products
- (d) Bio pesticide products
- (e) Integrated Pest Management products
- (f) New technologies
- (g) Crop protection products.
Currently, the crop protection products are manufactured by its subsidiary Nova Agri Sciences Private Limited. 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 Rs31.81 crores. Nova AgriTech IPO price band is set at ₹39 to ₹41 per share. The minimum lot size for an application is 365 Shares. 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.
Nova AgriTech IPO Overview
| Detail | Description |
|---|---|
| IPO Date | January 23, 2024 to January 25, 2024 |
| Listing Date | January 31, 2024 |
| 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 Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, January 23, 2024 |
| IPO Close Date | Thursday, January 25, 2024 |
| Basis of Allotment | Monday, January 29, 2024 |
| Initiation of Refunds | Tuesday, January 30, 2024 |
| Credit of Shares to Demat | Tuesday, January 30, 2024 |
| Listing Date | Wednesday, January 31, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 25, 2024 |
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
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 10,522,220 (30.00%) | NA | QIB Shares Offered | 7,015,139 (20.00%) | NA |
| NII (HNI) Shares Offered | 5,261,354 (15.00%) | |
| bNII > ₹10L | 3,507,569 (10.00%) | 686 |
| sNII < ₹10L | 1,753,785 (5.00%) | 343 |
| Retail Shares Offered | 12,276,492 (35.00%) | 33,634 |
| Total Shares Offered | 35,075,205 (100%) |
Nova AgriTech IPO Promoter Holding
| Share Holding Pre Issue | 84.27% |
| Share Holding Post Issue | 59.39% |
Nova AgriTech IPO Anchor Investors Details
| Bid Date | January 19, 2024 |
| Shares Offered | 10,522,220 |
| Anchor Portion Size (In Cr.) | 43.14 |
| Anchor lock-in period end date for 50% shares (30 Days) | February 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 28, 2024 |
Company & Financials
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. 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 had 13 Kisan Mitras and 253 Kisan Sevaks at its base.
Nova AgriTech Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 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 | 20.33 | 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
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
| P/BV | 4.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.14 | 2.24 |
| P/E (x) | 13.05 | 18.27 |
Objectives of Nova AgriTech IPO
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 utilized in the following manner:
- 1. Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant.
- 2. Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant.
- 3. Funding of working capital requirements of the company.
- 4. Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements.
- 5. General corporate purposes.
Nova AgriTech IPO Review
The company is operating in a highly competitive segment of agri-input. It posted growth for the last three fiscals, but H1 of FY24 indicates static performance. Based on FY24 annualized earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long term rewards.
FAQs for Nova AgriTech IPO
-
What Is The Size Of The Nova Agritech India Limited IPO?
Nova Agritech Limited is coming up with an IPO with a fresh issue and an offer for sale. Fresh Issue is for INR 140 crores, and the company intends to invest in its subsidiary to meet capital and working capital requirement. In the offer-for-sale segment, the company intends to sell 77,58,620 shares.
-
What Is The Price Band Of Nova Agritech India Limited IPO?
The price band of Nova Agritech India Limited IPO is INR 39 to 41 per share.
-
When will Nova Agritech Limited IPO allotment be available?
The Basis of Allotment will happen on Thursday, January 25, 2024.
-
When will Nova Agritech Limited's IPO open for subscription?
The IPO subscription window will open on Tuesday, January 23, 2024.
-
What minimum lot size can retail investors subscribe to?
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 365 shares.
Nova AgriTech IPO Subscription Status
Category
Subscription (times)
QIB
81.13
NII
233.03
bNII (bids above ₹10L)
231.40
sNII (bids below ₹10L)
236.27
Retail
80.20
Total
113.21
RHP:
RHP of Nova Agritech Limited IPO
DRHP:
DRHP of Nova Agritech Limited IPO
Anchor Investor Link:
Anchor Investor Link of Nova Agritech Limited IPO
-
What Is The Size Of The Nova Agritech India Limited IPO?
Nova Agritech Limited is coming up with an IPO with a fresh issue and an offer for sale. Fresh Issue is for INR 140 crores, and the company intends to invest in its subsidiary to meet capital and working capital requirement. In the offer-for-sale segment, the company intends to sell 77,58,620 shares.
-
What Is The Price Band Of Nova Agritech India Limited IPO?
The price band of Nova Agritech India Limited IPO is INR 39 to 41 per share.
-
When will Nova Agritech Limited IPO allotment be available?
The Basis of Allotment will happen on Thursday, January 25, 2024.
-
When will Nova Agritech Limited's IPO open for subscription?
The IPO subscription window will open on Tuesday, January 23, 2024.
-
What minimum lot size can retail investors subscribe to?
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 365 shares.
Nova AgriTech IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 81.13 |
| NII | 233.03 |
| bNII (bids above ₹10L) | 231.40 |
| sNII (bids below ₹10L) | 236.27 |
| Retail | 80.20 |
| Total | 113.21 |
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