Nova Agritech IPO Blooms: Issue Subscribed 9.75 Times on Day 1

23 Jan 2024 , 09:49 PM

Due to the overwhelmingly positive response from retail and non-institutional investors (NIIs), the Nova Agritech IPO was fully booked within the first hour of its opening. Bookings for Qualified Institutional Buyers (QIBs) are not yet complete. At the end of day 1, the subscription status for the Nova IPO is 9.75 times. 

Retail investors subscribed 12.77 times, non-institutional investors (NII) 14.68 times, and qualified institutional buyers (QIBs) 62% of the first day of the Nova Agritech IPO.

The subscription deadline for the Nova Agritech IPO has been postponed for today, Tuesday, January 23, with a closing date of Thursday, January 25. The Nova Agritech initial public offering (IPO) was originally set to begin on Monday, January 22. However, due to a national holiday commemorating the opening of the Ram Temple in the northern city of Ayodhya, the equity market was closed on Monday. The opening was therefore rescheduled. The pricing range for the Nova Agritech initial public offering (IPO) is Rs 39 to Rs 41 for each equity share, with a face value of Rs 2.

365 equity shares were offered in the Nova Agritech IPO, and additional lots of 365 equity shares were offered as well. In the Nova Agritech initial public offering (IPO), a minimum of 15% of the shares are reserved for non-institutional institutional investors (NII), a minimum of 35% of the shares are reserved for retail investors, and a maximum of 50% of the shares are reserved for qualified institutional buyers (QIB).

According to BSE data, bids for 24,77,91,200 shares have been received for the Nova IPO, while 2,54,14,746 shares are on sale.

In the retail investor component of the Nova Agritech IPO, bids were received for 16,30,36,740 shares, while the total number of shares offered was 1,27,66,799 shares.

Out of the 54,71,486 shares on sale for this segment, bids for 8,03,35,770 shares were received by the non-institutional investors component of the Nova IPO.

44,18,690 shares were bid for in the QIBs section of the Nova Agritech IPO, compared to the 71,76,461 shares that were offered for this segment.

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