Nova AgriTech IPO opens today: Latest GMP, price, date, other essential details to know about the IPO

Nova AgriTech IPO GMP today: Shares trading at ₹20 premium in grey market

Nova AgriTech IPO: Shares of Nova AgriTech Ltd are trading at a premium of ₹20 in the grey market today, as per market observers. The grey market is an unofficial platform where shares of companies listed on the stock exchanges are traded before the IPO opens. The trading gives an indication of expected listing price and investor demand.

Nova AgriTech IPO price band fixed at ₹39-41 per share

The price band for the Nova AgriTech IPO has been fixed at ₹39-41 per equity share by the company. Investors can bid for Nova AgriTech shares in this price range in multiples of 365 shares.

The IPO comprises a fresh issue of equity shares aggregating up to ₹112 crore and an offer-for-sale (OFS) of 31,81,000 shares by promoters aggregating up to ₹31.81 crore.

Nova AgriTech IPO opening and closing dates

The initial public offering of Nova AgriTech will open for subscription on January 23, 2024 and close on January 25, 2024. The IPO has a face value of ₹10 per equity share.

The shares are proposed to be listed on BSE and NSE after the share allocation is finalized.

Nova AgriTech IPO size and fundraising target

The agricultural technology company aims to raise ₹143.81 crore through the IPO at the upper end of the price band.

• IPO size: ₹143.81 crore
• Fresh issue: ₹112 crore
• OFS: ₹31.81 crore

The proceeds from the fresh issue will be used for funding capital expenditure and general corporate purposes.

About Nova AgriTech Limited

Incorporated in 2015, Nova AgriTech is an agri-tech company providing solutions across the agriculture value chain. The company operates through two divisions:

• Agri-Tech Products: Manufactures and markets organic fertilizers, pesticides, fungicides etc.
• Agri Services: Provides soil testing, yield mapping, drone-based crop health monitoring services.

Nova AgriTech has a manufacturing facility in Telangana with a capacity of 216,000 MT per annum. It sells products under the brand name ‘Nova’.

Key details for investing in the IPO

• IPO date: January 23-25, 2024
• Price band: ₹39-41 per share
• Minimum lot size: 365 shares
• Issue size: 35,04,000 equity shares
• Listing: BSE, NSE

Investors looking to invest in the agriculture sector can consider the Nova AgriTech IPO based on their risk appetite and investment horizon. The company’s growth prospects, financials, valuations and business model should be evaluated before making an investment decision.

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