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Nova Agritech IPO was fully subscribed on the first day of bidding, with an overall subscription of 5.4 times so far. Retail category subscription stood at 8.1 times, followed by NII part at 6.1 times. The IPO includes a fresh equity issue of Rs 112 crore and an offer-for-sale of 77.58 lakh shares. Nova Agritech GMP is quoting Rs 20 in the unlisted market, with a premium of nearly 70%. The company has fixed a price band of Rs 39-41 for the IPO.

Nova Agritech IPO: The price band for the issue, which will close on January 25, has been fixed at Rs 39-41 a share

Nova Agritech IPO: The public 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

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.