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Nova Agritech's share price made a stellar debut on the bourses today, listing at ₹55, an over 34 percent premium to the issue price of ₹41, on the BSE. Meanwhile, on NSE, Nova Agritech's share price was listed at ₹56 apiece, up 36.6 percent from the issue price.
The ₹143.81 crore Nova IPO comprises a fresh issue of ₹112 crore, and an offer-for-sale (OFS) of 77.58 lakh equity shares of ₹2 aggregating up to ₹31.81 crore by the selling shareholder, Nutalapati Venkatasubbarao.
Netweb Technologies and Nova Agritech filed preliminary IPO papers with Sebi on March 28 and March 03, 2023 respectively.
Nova Agritech Limited offers tech based farmer driven solution for soil health management and crop nutrition as well as its own crop protection products that are ecologically sustainable and are nutritionally balanced.
The IPO comprises fresh issue of equity shares worth Rs 140 crore and an offer for sale of up to 77,58,620 equity shares.