iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Nova Agritech Soars 36% Above IPO Price in Stellar Market Debut

31 Jan 2024 , 05:25 AM

On January 31, Nova Agritech achieved a respectable start when its shares were listed at a 36.5 % premium over the IPO price. In contrast to the issue price of ₹41, the shares closed at ₹57.75 on the NSE. Analysts predicted that the stock will list between ₹ 58 and ₹72, at a premium of 40–70 %.

The initial public offering (IPO) included a fresh issue of 2.73 crore shares valued at ₹112 crore and an offer-for-sale of 77.58 lakh shares valued at ₹31.81 crore. The IPO was open for subscription on January 23 and ended on January 25. The offer’s price range was set at ₹39–41 per share.

The issue proceeds will be divided as follows: ₹10.49 crore will be used to fund Nova Agritech’s capital expenditures and the expansion of its current plant; ₹26.65 crore will be used to meet working capital requirements; ₹43.36 crore will be invested in Nova Agri Sciences; and ₹14.20 crore will be used to establish a formulation plant in the subsidiary.

For feedback and suggestions, write to us at editorial@iifl.com

Nova Agri Tech Limited

Related Tags

  • IPO
  • listing
  • Nova Agritech
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.