Nova AgriTech is ready to finalise the idea of allotment for its latest preliminary public providing (IPO) on Monday, January 29. Investors who participated within the bidding course of can anticipate to obtain messages, alerts, or emails concerning the debit of funds or revocations of the IPO mandate by the top of Monday.
The firm, a participant in crop diet, garnered vital curiosity from buyers in the course of the bidding interval.
IPO particularsÂ
The Nova AgriTech IPO, which ran from January 23 to January 25, had a value band of Rs 39-41 per share. The firm raised roughly Rs 143.81 crore by its main route, together with a contemporary share sale of Rs 112 crore and an offer-for-sale (OFS) of as much as 77.58 lakh fairness shares.
The IPO witnessed a exceptional subscription fee of 109.37 occasions, with non-institutional bidders main the best way with a subscription fee of 224.08 occasions. Qualified institutional bidders (QIBs) subscribed 79.31 occasions, and the portion for retail buyers was subscribed 77.12 occasions.
Despite market volatility, the gray market premium (GMP) for Nova AgriTech rose, reaching a premium of Rs 23 per share. This suggests a possible listing pop of 55-56 per cent. Previously, the GMP for Nova AgriTech was at Rs 20 per share within the unofficial market.
Nova AgriTech, primarily based in Hyderabad and established in May 2007, focuses on three predominant segments: soil well being, plant diet, and crop safety. Brokerage companies typically expressed positivity in the direction of the IPO, highlighting Nova AgriTech’s sturdy enterprise mannequin, give attention to the agricultural sector, beneficial margins, and potential for enlargement. However, some analysts raised considerations about wealthy valuations and geographical focus.
The book-running lead managers for the Nova AgriTech IPO are Bajaj Capital and Keynote Financial Services, with Bigshare Services serving because the registrar for the problem. The shares of the corporate are scheduled to be listed on each the BSE and NSE on January 31, 2024, Wednesday.
Investors who participated within the IPO can examine the allotment standing on the BSE web site’s IPO software examine web page. By deciding on Nova AgriTech Limited underneath the problem sort and coming into the appliance quantity and PAN card quantity, buyers can entry their allotment standing.
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