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Nova Agritech listed on exchanges with a 36.6% premium, debuting at Rs 56 on BSE and Rs 55 on NSE. The IPO received over 100 times subscription as non-institutional and institutional investors bid heavily. The company's solid financial track record and impressive ROE of 32.1% attracted analysts. Proceeds from the IPO will be used for subsidiary investment, capex, working capital, and investment in Nova Agri Sciences. Nova Agri Sciences contributes significantly to Nova Agritech's revenue by manufacturing crop protection products.

Nova Agritech IPO: The shares opened at Rs 55 on the NSE and Rs 56 on the BSE against an issue price of Rs 41

Nova Agritech, an agri-input manufacturer, witnessed a solid listing for its IPO. The company's strong market position, diverse product portfolio, and effective marketing strategy contributed to its growth potential. Nova Agritech's consistent financial performance, impressive return on equity (ROE) of 32.1%, and robust PAT margins at 9.7% in FY23 further bolstered investor sentiment. The proceeds from the IPO will be used for investment in its subsidiary, funding capex, working capital requirements, and investment in Nova Agri Sciences.

Nova Agritech IPO: The shares opened at Rs 55 on the NSE and Rs 56 on the BSE against an issue price of Rs 41

Nova Agritech IPO: The stock is expected to open somewhere between Rs 58 and Rs 72 against the issue price of Rs 41