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Hyderabad-based Nova AgriTech focuses on three segments namely soil health, plant nutrition and crop protection. The company was incorporated in May 2007.
The IPO date of subscription is scheduled for Monday, January 22
Nova AgriTech IPO, which will open for subscription from January 22 to January 24, is looking to sell shares at Rs 39-41 apiece. The company plans to raise Rs 112 crore through a fresh equity issue and an offer for sale (OFS) of 77.5 lakh shares. The allocation for qualified institutional buyers (QIBs) is at 50%, for non-institutional investors (NIIs) at 15%, and for retail investors at 35%. Nova AgriTech's revenue in FY23 was Rs 210 crore with a profit of Rs 20.48 crore.
Nova AgriTech IPO comprises a fresh equity issue worth Rs 112 crore and an offer for sale (OFS) of 77.5 lakh shares. The price band for the IPO will be announced soon.
Agri-input manufacturer Nova Agritech, server maker Netweb Technologies India and sewerage solution provider EMS have received capital market regulator Sebi’s approval to raise funds through initial public offerings. The three companies, which filed their preliminary papers with Sebi between