Nova Agritech IPO: Nova Agritech IPO will open on January 22, know the price band and GMP.
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Nova Agritech IPO: If you are thinking of investing money in IPO, then a great opportunity for you is going to come in the stock market. Nova Agritech Limited has set the price band for its Rs 144 crore initial public offering (IPO) at Rs 39-41 per share. The company gave this information on Wednesday. The company’s IPO will open on January 22 and close on January 24. New shares worth up to Rs 112 crore will be issued under the IPO. Apart from this, Offer for Sale (OFS) of 77.58 lakh equity shares will be brought by one shareholder Nutalapati Venkatasubbarao. He holds 11.9 percent stake in the company. At the upper end of the price band, the company will raise Rs 143.81 crore. Nova Agritech IPO lot size is 365 equity shares and in multiples of 365 equity shares thereafter. This means that investors will have to invest at least Rs 14,965 for this.
Company may be listed on January 30
The basis of allotment of shares of Nova Agritech IPO will be finalized on Thursday, January 25. The company will start the refund on January 29 while the shares will be credited to the demat account of the allottees on the same day after the refund. Shares of Nova Agritech are likely to be listed on BSE and NSE on Tuesday, January 30.
what does the company do
Nova Agritech Limited specializes in crop protection, crop nutrition and soil health management. The company’s technology-driven farmer-driven solutions approach allows it to provide products that are both nutritionally balanced and environmentally sustainable with a focus on research and development. The product categories that the company manufactures, distributes and markets include products for soil health management, products for crop nutrition, production of biostimulants, production of biopesticides, production of integrated pest management and products for crop protection. Presently, the company’s subsidiary Nova Agri Sciences Pvt Ltd is in-charge of the production of crop protection products.
what is ipo
Full name of IPO Initial Public Offering Is. It is a financial process in which a private company decides to issue an offer of its stock to investors in the open market. This is the first time for the company when it goes to sell its shares in the open market. When a company issues an IPO, it publicizes its shares and gives investors the opportunity to buy its shares. Through IPO, the company makes its stock available to investors through public and news media so that they can buy it. Through IPO, the company mostly tries to attract new investors for its stock and through this the company collects most of the capital to fulfill its development and financial plans. This is an attractive option for investors because it offers them the opportunity to own a public company.
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