Business Standard

Nova Agritech Ltd - IPO

Issue Type

Book Building

Issue Size (₹ Cr.)

143.81 cr

Price Range (₹)

41

Lot Size

365

Min Investment (₹)

14,965.00

Listing Exchange

MumbaiNSE

Open Date

23-Jan-2024

Close Date

25-Jan-2024

Listing Date

31-Jan-2024

Nova Agritech Ltd News

    The Shares of Nova Agritech Ltd have now been listed.

    Nova Agritech Ltd IPO Details

    Initial public offering of 3,50,75,693 equity shares of face value of Rs. 2/- each (Equity Shares) of the company for cash ata price of Rs. 41/- per equity share (including a share premium of Rs. 39 per equity share) (Offer Price) aggregating to Rs. 143.81 crores (the Offer) comprising a fresh offer of 2,73,17,073 equity shares aggregating to Rs. 112.00 crores by the company (the Fresh Offer) and an offer for sale of up to 77,58,620 equity shares aggregating to Rs. 31.81 crores by Nutalapati Venkatasubbarao (selling shareholder) (and such offer for sale of equity shares by the selling shareholder the Offer for Sale). The offer would constitute 37.91 % of the post-offer paid-up equity share capital of the company. The Offer for Sale and together with the fresh offer, the Offer. The face value of the equity shares is Rs. 2/- each and the issue price is 20.50 times the face value of the equity shares. ^Subject to finalisation of the basis of allotment.

    Objective of issue

    Investment on the company subsidiary, Nova Agri Sciences Pvt Ltd for setting up a new formulation plant. Funding Capital Expenditure by the Company, towards expansion of its existing formulation plant. Funding of working capital requirement of the company. Investment in the subsidiary Nova Agri Sciences Pvt Ltd, for funding working capital requirements. General corporate purposes.

    Nova Agritech Ltd Contact Details

    Nova Agritech Ltd, Office No 56-2, Pinnacle Busine.Park, Mahakali Caves Road, Mumbai - 400093

    Phone - 91-22-62638200

    Fax - 91-22-63638299

    Email - ipo@novaagri.in

    Website - www.novaagri.in