Nova Agritech IPO Date, GMP, Price, Subscription Status, Review And Amazing Details

Last Updated on February 1, 2024 by Wenivesh Team

Nova Agritech IPO, a promising contender in the agricultural sector, has recently captured the spotlight with its Initial Public Offering (IPO). The IPO, which ran from January 23 to January 25, 2024, witnessed remarkable investor enthusiasm, indicative of the confidence in the company’s potential. Let’s delve deeper into the details of Nova Agritech’s IPO, examining its specifics, market reception, and potential implications.

Nova Agritech Share Price Today

Currently, Nova Agritech Ltd.’s share price is around 57.75 INR. The stock had a good start, debuting at a 36.5 percent premium over its IPO price on January 31, 2024. Remember, share prices can fluctuate during the trading day due to different reasons. For the latest price, it’s best to check the live stock prices on the NSE or BSE websites or financial news portals.

Nova Agritech IPO Details

Nova Agritech IPO boasted a price band of ₹39 to ₹41 per share, offering investors an opportunity to participate in the company’s growth story. With a total issue size of 35,075,693 shares, aggregating up to ₹143.81 crore, the IPO comprised a fresh issue of 27,317,073 shares worth ₹112.00 crore and an Offer for Sale (OFS) of 7,758,620 shares valued at ₹31.81 crore. This allocation aimed to bolster the company’s financial standing and facilitate its expansion endeavors.

The market response to Nova Agritech IPO was nothing short of phenomenal. The book-built issue was oversubscribed by an impressive 109.37 times, showcasing the strong investor appetite for the company’s shares. Moreover, the Grey Market Premium (GMP) surged to ₹23 per share, indicating a potential listing pop of 55-56%. This heightened interest underscores the market’s confidence in Nova Agritech prospects and signifies a promising debut on the BSE and NSE.

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Nova Agritech IPO Date, GMP, Price, Review Overview

ParameterDetails
IPO DateJanuary 23, 2024 – January 25, 2024
Listing DateJanuary 31, 2024
Face Value₹2 per share
Price Band₹39 to ₹41 per share
Lot Size365 Shares
Total Issue Size35,075,693 shares (₹143.81 Cr)
Fresh Issue27,317,073 shares (₹112.00 Cr)
Offer for Sale (OFS)7,758,620 shares (₹31.81 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Shareholding Pre-Issue65,202,740 shares
Shareholding Post-Issue92,519,813 shares

Nova Agritech IPO Subscription Status

Nova Agritech IPO garnered significant attention from investors, with the book-built issue oversubscribed a staggering 109.37 times. This overwhelming response underscores the confidence investors have in the company’s growth trajectory and the agricultural sector’s potential.

Nova Agritech IPO GMP Today

The Grey Market Premium (GMP) for Nova Agritech IPO surged to ₹23 per share, indicating a potential listing pop of 55-56%. While GMP serves as an indicative metric for listing day performance, it reflects strong investor interest and optimism surrounding the IPO.

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Nova Agritech IPO Review

Brokerage firms have generally expressed optimism regarding Nova Agritech’s IPO, citing its robust business model, focus on the agricultural sector, healthy margins, and expansion potential. However, some analysts have cautioned against the company’s rich valuations and geographical concentration, urging investors to conduct thorough due diligence before making investment decisions. Despite these concerns, the overwhelming response to the IPO reflects a positive sentiment towards Nova Agritech and bodes well for its future endeavors.

Conclusion

Nova Agritech IPO represents a significant milestone in the company’s journey, symbolizing its aspirations for growth and innovation in the agricultural domain. As the shares prepare to debut on the BSE and NSE on January 31, 2024, all eyes will be on Nova Agritech as it embarks on this new chapter of its corporate voyage. With strong investor interest and a promising outlook, Nova Agritech is poised to capitalize on opportunities and carve a niche for itself in the dynamic landscape of agri-business.

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For Details About Nova Agritech IPO visit NSE India Official Website.

Happy trading!

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