Nova AgriTech Limited manufactures products that help farmers grow crops better. The main focus is on three things: Soil health, plant nutrition and crop protection. The products are manufactured using technology and are designed to be environmentally friendly and nutritious. The company collaborates with farmers to gain insight into their needs and develop customized solutions that meet their requirements.
The company manufactures, distributes and markets a broad range of product categories, including (a) soil health products, (b) crop nutrition products, (c) biostimulants, (d) biopesticides, (e) integrated pest management (IPM) products, (f) new technologies and (g) crop protection products. The subsidiary Nova Agri Sciences Private Limited is currently responsible for the production of crop protection products.
As of January 31, 2023, the company has received a total of 629 product registrations. These registrations are divided into four categories, namely soil health management, plant nutrition, biopesticides and crop protection. These include 7 registrations in the soil health management category, 168 registrations in the plant nutrition category, 4 registrations in the biopesticide category and 450 registrations in the crop protection category.
By January 31, 2023, the company has 13 Kisan Mitras and 253 Kisan Sevaks at its base.
As on January 31, 2023, the Company has a team of 32 NKSK Coordinators, all of whom have a degree in Agricultural Sciences and are on the Company’s payroll.The NKSK program comprises three levels: NKSK Coordinators, Kisan Mitras and Kisan Sevaks. This ensures personal contact with the farmers at the grassroots level.
The company employs 215 people in its sales team. They manage brand sales, distribution channels, and product promotion.
Nova AgriTech IPO – Details
| IPO Opening Date | 23 January 2024 |
| IPO Closing Date | 25 January 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3,50,75,693 Shares Worth ₹143.81 Crore Fresh Issue: 2,73,17,073 Shares Worth ₹112 Crore Offer For Sale: 77,58,620 Shares Worth ₹31.81 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹39 – ₹41 |
| Market Lot | 365 Shares |
| Min Order | 365 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Nova AgriTech IPO – Date Schedule
| IPO Open Date | 23 January 2024 |
| IPO Close Date | 25 January 2024 |
| Basis of Allotment Date | 29 January 2024 |
| Initiation of Refund | 30 January 2024 |
| Credit of Shares to Demat Account | 30 January 2024 |
| IPO Listing Date | 31 January 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 25 January 2024 |
Nova AgriTech IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 365 | 14,965 |
| Retail (Max) | 13 | 4,745 | 1,94,545 |
| S-HNI (Min) | 14 | 5,110 | 2,09,510 |
| S-HNI (Max) | 66 | 24,090 | 9,87,690 |
| B-HNI (Min) | 67 | 24,455 | 10,02,655 |
Competitive Strengths
- One stop solution for soil health management, crop nutrition, bio stimulant, bio pesticides, Integrated Pest Management (IPM) and crop protection through diversified branded product portfolio.
- Established distribution network across various geographies through many dealers.
- Strengthening farmer outreach through Nova Kisan Seva Kendra.
- Technology driven product development and marketing.
- Focus on ecologically sustainable and nutritionally balanced products.
- Experienced Management Team and Promoters.
- Well Equipped Research & Development facility.
Company Promoters
- Suraksha Agri Retails (India) Private Limited
- Yeluri Family Trust, Malathi S
- Kiran Kumar Atukuri
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 160.92 | 152.25 | 6.30 | 51.10 |
| 31 March 2022 | 185.61 | 167.16 | 13.68 | 64.27 |
| 31 March 2023 | 210.93 | 182.87 | 20.48 | 70.96 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 38.27% |
| ROCE | 27.25% |
| Debt/Equity | 1.11 |
| RoNW | 32.08% |
Object Of The Issue
- Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant;
- Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant;
- Funding of working capital requirements of the company;
- Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements; and
- General corporate purposes.
Nova AgriTech IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Aries Agro Ltd | 15.44 |
| 2 | 10 | Aimco Pesticides Limited | -56.62 |
| 3 | 1 | Basant Agrotech Limited | 10.54 |
| 4 | 10 | Best Agrolife Limited | 41.93 |
| 5 | 10 | Bhagiradha Chemicals & Industries Ltd | 11.30 |
| 6 | 10 | Heranba Industries Limited | 13.56 |
| 7 | 1 | India Pesticides Limited | 29.51 |
| 8 | 10 | Madras Fertilizers Limited | 9.35 |
| 9 | 10 | Dharmaj Crop Guard Limited | 21.89 |
Nova AgriTech IPO Promoter Holding
| Pre Issue Share Holding | 84.27% |
| Post Issue Share Holding | 59.39% |
Nova AgriTech IPO Prospectus
- Nova AgriTech IPO DRHP
- Nova AgriTech IPO RHP
Company Contact Information
| Nova AgriTech Limited Sy.No.251/A/1, Singannaguda Village Mulugu Mandal Siddipet, Medak- 502279 Phone: +91 84 54253446 Email: ipo@novaagri.in Website: https://novaagri.in/ |
Nova AgriTech IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Nova AgriTech IPO Lead Manager(s)
| 1. Bajaj Capital Limited 2. Keynote Financial Services Ltd |
Nova AgriTech IPO FAQs
| What is Nova AgriTech IPO? Nova AgriTech IPO is a main-board IPO. The issue is priced at ₹39 to ₹41 per equity share. The IPO is to be listed on BSE & NSE. |
| When Nova AgriTech IPO will open? The IPO is to open on 23 January 2024 for QIB, NII, and Retail Investors. |
| What is Nova AgriTech IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Nova AgriTech IPO? You can apply Nova AgriTech IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Nova AgriTech IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Nova AgriTech”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Nova AgriTech IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Nova AgriTech“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Nova AgriTech IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Nova AgriTech”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Nova AgriTech IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Nova AgriTech”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Nova AgriTech IPO Size? Nova AgriTech IPO size is ₹143.81 Crore. |
| What is Nova AgriTech IPO Price Band? Nova AgriTech IPO Price Band is ₹39 to ₹41. |
| What is Nova AgriTech IPO Minimum and Maximum Lot Size? The minimum bid is 365 Shares with ₹14,965 amount while the maximum bid is 4,745 Shares with ₹1,94,545. |
| What is the Nova AgriTech IPO Allotment Date? Nova AgriTech IPO allotment date is 29 January 2024. |
| What is the Nova AgriTech IPO Listing Date? Nova AgriTech IPO listing date is 31 January 2024. The IPO is to list on BSE and NSE. |
