Nova AgriTech IPO, which will open for subscription from January 22 to January 24, is looking to sell shares at Rs 39-41 apiece. The company plans to raise Rs 112 crore through a fresh equity issue and an offer for sale (OFS) of 77.5 lakh shares. The allocation for qualified institutional buyers (QIBs) is at 50%, for non-institutional investors (NIIs) at 15%, and for retail investors at 35%. Nova AgriTech s revenue in FY23 was Rs 210 crore with a profit of Rs 20.48 crore.
Nova Agritech IPO: The IPO is a mix of a fresh issuance of shares worth Rs 112 crore, and an offer-for-sale (OFS) of 77.58 lakh equity shares by Nutalapati Venkatasubbarao.
Nova AgriTech IPO comprises a fresh equity issue worth Rs 112 crore and an offer for sale (OFS) of 77.5 lakh shares. The price band for the IPO will be announced soon.