Nova AgriTech IPO
Nova AgriTech IPO — date, price band, lot size & details 2024
Nova AgriTech listed on 31 Jan 2024 at ₹55, 34.1% above the ₹41 issue price.
Nova AgriTech makes soil health, crop nutrition, bio stimulant and crop protection products for farmers, based on its own research. Its total income was Rs 210.93 crore in FY2023.
Stock price
Nova AgriTech is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 23 Jan 2024
- Close 25 Jan 2024
- Allotment 29 Jan 2024
- Refund/credit 30 Jan 2024
- Listing 31 Jan 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Jan, 2024 |
|---|---|
| Price Band | ₹39 – ₹41 |
| Face Value | ₹2 |
| Lot Size | 365 Shares |
| Issue Size | ₹143.81 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 14,965 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 365 shares at the ₹41 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 365 | ₹14,965 |
| Retail (max) | 13 | 4,745 | ₹1,94,545 |
| S-HNI (min) | 14 | 5,110 | ₹2,09,510 |
| S-HNI (max) | 66 | 24,090 | ₹9,87,690 |
| B-HNI (min) | 67 | 24,455 | ₹10,02,655 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 160.93 crore in FY2021 to Rs 210.93 crore in FY2023.
- 02Profit after tax rose from Rs 6.30 crore in FY2021 to Rs 20.49 crore in FY2023.
- 03The pre-issue P/E was 13.05 at the upper band of Rs 41, based on EPS of Rs 3.14.
- 04Rs 112.00 crore of the issue was fresh capital for plants and working capital.
- 05The promoters did not sell shares, and profit was Rs 10.38 crore in the six months to 30 September 2023.
Risks · 5
- 01Total borrowing was Rs 68.50 crore on 30 September 2023, and the source puts debt to equity at 1.11.
- 02Agri-input demand depends on the monsoon and farm incomes, and the source puts the PAT margin at 9.73%.
- 03The company is small, with net worth of Rs 74.23 crore on 30 September 2023.
- 04Working capital needs are high, with Rs 43.36 crore of the fresh money for subsidiary working capital.
- 05The promoters held 84.27% before the issue and about 59.39% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Nova AgriTech offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 196.37 | 180.78 | 160.30 | 147.44 |
| Total Income | 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 |
| Total Borrowing | 68.50 | 70.96 | 64.27 | 51.10 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Nova AgriTech RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Nova AgriTech IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹3.14 | ₹2.24 |
| P/E Ratio (x) | 13.05 | 18.27 |
| Market Cap at Offer Price (₹ Cr) | ₹135.54 | ₹189.99 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹41 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹97.83 Cr of the issue is earmarked to named objects.
About the company
It makes, distributes and markets soil health management products, crop nutrition products, bio stimulants, bio pesticides, integrated pest management products, new technologies and crop protection products. Its crop protection products are made by its subsidiary Nova Agri Sciences.
It mainly offers ecologically sustainable and nutritionally balanced products based on its own research and development.
The IPO was Rs 143.81 crore, with Rs 112.00 crore of fresh issue and Rs 31.81 crore of offer for sale by Nutalapati Venkatasubbarao. Fresh money was planned for a new formulation plant and working capital at its subsidiary, expanding its own plant and working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Nova AgriTech IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Keynote Financial Services
4 issues handledBest listing: Mufti (+0.8%). Weakest: Amir Chand Jagdish Kumar (Exports) (-5.7%).
Bajaj Capital Ltd
1 issue handled1 of their issues has listed so far, and 0 opened above the issue price (average 0%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Nova AgriTech?
The current Grey Market Premium is ₹20, or 49% over the issue price.
What is the Nova AgriTech IPO price band?
₹39 to ₹41, on a face value of ₹2.
When is the allotment?
The basis of allotment is 29 January 2024, with listing on 31 January 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
