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Ahead of the debut, the company's shares are trading with a premium of Rs 23 in the unlisted market. Considering the upper price band of Rs 41, the stock is expected to list with a premium of over 50%
Nova Agritech IPO: The price band for the issue has been fixed at Rs 39-41 a share
Most analysts have given a subscribe recommendation to the issue over the company's solid financial track record in a highly competitive sector. The company has delivered an impressive return on equity of 32.1% and boasts robust PAT margins at 9.7% in FY23.
Nova Agritech IPO: The offer consists of a fresh issue of 2.73 crore shares worth Rs 112 crore and an OFS of 77.58 lakh shares worth Rs 31.81 crore
Most analysts gave a subscribe recommendation to the Nova Agritech IPO over the company's solid financial track record in a highly competitive sector. However, despite a strong subscription, the GMP of the was slightly down and is currently about 50% above the issue price.