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Nova Agritech Ltd IPO

Nova Agritech Limited is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer driven solution approach, wherein the company mainly offers ecologically sustainable and nutritionally balanced products based on its Research and Development. The Company manufactures, distributes and markets a wide range of product categories consisting of (a) soil health management products; (b) crop nutrition products; (c) bio stimulant products; (d) bio pesticide products (e) Integrated Pest Management products; (f) new technologies; and (g) crop protection products. Currently, the crop protection products are manufactured by its subsidiary Nova Agri Sciences Private Limited.

Nova Agritech Ltd IPO Details

Total Shares Offered

₹ 3,50,75,693

Offer to Public

77,58,620

Retail Max (Shares)

₹ 1,22,76,492

Pre Issue Promoters Holding

₹ 5,49,44,045

Exchange

BSE

Issue size

₹ 143.81 Cr

IPO Open Date

Jan 23, 2024

Close Date

Jan 25, 2024

Lot Size

365

Min Investment

₹ 14,235

Issue Type

Book Building

Listing Date

Jan 31, 2024

Nova Agritech Ltd IPO Dates

Jan 23, 2024

Opening date

Jan 25, 2024

Closing date

Jan 29, 2024

Basis of Allotment

Jan 30, 2024

Initiation of Refunds

Jan 30, 2024

Credit of Shares

Jan 31, 2024

Listing date

Details

Sector	Type
Sector	Fertilizers
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	17537847
NII	0x	5261354
Retail	0x	12276492
Employee	0x	0
Total	0x	35075693

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

17537847

5261354

12276492

35075693

Nova Agritech Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	294.13	252.47	210.56
EBITDA	24.21	23.17	15.71
PAT	16.52	18.60	8.42
Total Assets	197.66	219.57	105.07
Share Capital	18.50	18.50	12.54
Total Borrowings	51.50	58.36	42.22
Operating Activities (Net Cash)	17.54	19.97	10.20
Investing Activities (Net Cash)	42.76	1.10	1.22
Financing Activities (Net Cash)	51.50	58.36	42.22
Net Cashflow	28.22	84.86	2.57

About Nova Agritech Ltd

Nova Agritech Limited was incorporated as a private limited company under the provisions of the Companies Act, 1956 on May 9, 2007 at Hyderabad, Andhra Pradesh as Nova Agritech Private Limited. The name of the Company was subsequently changed to 'Nova Agritech Limited, upon conversion into a public company, pursuant to a shareholders' resolution dated September 08, 2018. and a fresh certificate of change of name was issued by the Registrar of Companies, Hyderabad (RoC) on September 24, 2018.

Crop nutrition industry primarily consists fertilizers (chemical, organic and bio-fertilizers) and bio-stimulants. Overview and types of fertilizers: Fertilizer is any material of natural or synthetic origin that is applied to plant tissues or soil to supply plant nutrients. For most modern agricultural practices, fertilization focuses on three main macro nutrients: Nitrogen , Phosphorous and Potassium. Fertilizers are mainly classified as - i. Chemical fertilizers ii. Organic fertilizers iii. Biofertilizers. Overview and key types of bio-fertilizers: As per several studies conducted by the Centre of Science & Environment, crops no longer respond to chemical fertilizers as they used to. The fertilizer response ratio used to be 13.4 in 1970 which further reduced to 2.7 by 2015. Due to heavy subsidies provided for nitrogen, the nitrogen-phosphorous-potassium ratio has been skewed towards nitrogen. However, the continuous use of nitrogenous fertilizers adversely affected the soil health in India. The crops displayed symptoms in deficiencies of macro and micro nutrients. This became a growing concern and led to the search foralternative non-chemical choiceswhich included biofertilizers and organic fertilizers. Bio fertilizers contain microbes, that enhance plant nutrition or increase nutrient availability in soils. E.g. azospirillum, rhizobium, etc. They are regulated under the Fertilizer Control Order.

Peer Comparison:

Aries Agro Ltd
Aimco Pesticides Ltd
Basant Agro Tech (India) Ltd
Best Agrolife Ltd
Bhagiradha Chemicals & Industries Ltd
Heranba Industries Ltd
India Pesticides Ltd
Madras Fertilizers Ltd
Dharmaj Crop Guard Ltd

Nova Agritech Ltd Key Points

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.

Risk

The strength of its brands is crucial to the company growth and success and its may not succeed in continuing to maintain and develop the company brands.

The company propose to utilise portion of the Net Proceeds of the Offer for investment in its subsidiary, Nova Agri Sciences Private Limited for setting-up formulation plant and funding Capital Expenditure by the Company towards setting up its formulation plant, which may be subject to delays, cost overruns, and other risks and uncertainties.

The company intend to utilize a portion of the Net Proceeds towards investment in its subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant and towards funding Capital Expenditure in Nova Agritech Limited for expansion of the existing formulation plant. The company has yet to place orders for plant and machinery for the proposed new formulation plant and expansion of its existing formulation plant. Any delay in undertaking such and not adhering to the schedule of implementation could have a material adverse effect on the company business growth and prospects, financial condition and results of operations.

Strategy

Enhance its product portfolio by expanding its manufacturing capacities and increasing its competencies.

Continued focus on product registrations for domestic and international market expansion.

Expand to newer geographies including expanding its export business to newer and wider spectrum.

Its strategy is to deepen farmer interface by providing holistic solutions and improve its operational parameters.

Enabling REACH towards business tie-ups with academic, domestic and international business partners.

How To Apply for Nova Agritech Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Nova Agritech Ltd IPO?

Nova Agritech Ltd's IPO offers shares for up to 112 It begins on Jan 23, 2024 and ends on Jan 25, 2024.

What is the price of the Nova Agritech Ltd IPO?

The price of Nova Agritech Ltd IPO ranges between ₹39 to ₹41 per share.

What are the open and close dates for the Nova Agritech Ltd IPO?

The Nova Agritech Ltd IPO opens on Jan 23, 2024 and closes on Jan 25, 2024.

When will the Nova Agritech Ltd IPO be allotted?

The allotment for the Nova Agritech Ltd IPO will be finalised on Jan 29, 2024. The shares will be listed on BSE and NSE on Jan 31, 2024.

What is the minimum lot size required for Nova Agritech Ltd IPO?

The minimum lot size for Nova Agritech Ltd IPO is 365 shares, priced between ₹39 to ₹41 per share.

What is the GMP of Nova Agritech Ltd IPO?

The GMP (Grey Market Premium) of Nova Agritech Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Nova Agritech Ltd IPO?

To check the allotment status of Nova Agritech Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Nova Agritech Ltd IPO getting listed?

The Nova Agritech Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jan 23, 2024, and closes on Jan 25, 2024. The allotment is finalised on Jan 29, 2024.

How do you apply for the Nova Agritech Ltd IPO?

To apply for the Nova Agritech Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.