Nova Agritech IPO Details
Issue Date
23 Jan - 25 Jan'24
Price Range
₹39 - ₹41
Lot Size
365
IPO Size
₹143.81 Cr
Nova Agritech IPO Listing Details
Listing On
31 Jan'24
Issue Price
₹41
Listed Price
₹ 55
Retail Gain/Listing Gain
▲34.15%
Schedule of Nova Agritech IPO
Start date
23/01/2024
End date
25/01/2024
Allotment of bids
Refund Initiation
30/01/2024
Listing on exchange
31/01/2024
Nova AgriTech Ltd IPO - Harvesting Growth | Issue Details and more
Kotak Securities
•1m 05s
Nova Agritech Company Background
Nova Agritech Limited is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on a tech-based farmer-driven approach.
The company mainly manufactures and distributes ecologically sustainable and nutritionally balanced products for soil health management, crop nutrition, biostimulants and much more.
Nova Agritech Competitive Strengths
Established distribution network across various geographies through many dealers
The company markets, sells and distributes a wide range of products to farmers across India with the help of its distribution channel of dealers spread across various states. They have a total dealer network comprising approximately 11,722 dealers, out of which approximately 6,769 dealers are active, where products have been sold in the financial year.
Strengthening farmer outreach through Nova Kisan Seva Kendra
The company runs a farmer outreach program called Nova Kisan Seva Kendra program (NKSK), through which it educates farmers on various crop management practices. As of November 30, 2023, their NKSK team is comprised of 24 NKSK Coordinators who are all agri-graduates and are on the company payroll. The company also has arrangements with individuals across various states who provide their services as Kisan Mitras, and Kisan Sevaks catering to the needs of the farmers.
Well-equipped research & development facility
The company has a dedicated in-house R&D facility and a quality control/quality assurance (QC/QA) facility at its manufacturing facilities to support technology transfer for new products and an on-site process improvement incubation centre. They also have tie-ups with various universities to get access to process know-how, innovation, R&D, knowledge transfer, technology transfer, product transfer, credit support, manpower, development, etc.
Risk Factors
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The strength of the brand is crucial to company growth and they may not succeed in continuing to maintain and develop the brand.
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The company intends to utilise a portion of the net proceeds towards investment in its subsidiary.
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The company had negative cash flow during certain fiscal years.
Key Strategies
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Enhance product portfolio by expanding manufacturing capacities and increasing competencies.
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Continued focus on product registrations for domestic and international market expansion.
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Expand to newer geographies including expanding the export business to a newer and wider spectrum.
Nova Agritech Key Financials
Here are the key financials for Nova Agritech Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How To Apply for Nova Agritech Ltd IPO?
Here are the steps to apply for Nova Agritech Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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