Nova Agritech s share price made a stellar debut on the bourses today, listing at ₹55, an over 34 percent premium to the issue price of ₹41, on the BSE. Meanwhile, on NSE, Nova Agritech s share price was listed at ₹56 apiece, up 36.6 percent from the issue price.
Nova Agritech, an agri-input manufacturer, witnessed a solid listing for its IPO. The company s strong market position, diverse product portfolio, and effective marketing strategy contributed to its growth potential. Nova Agritech s consistent financial performance, impressive return on equity (ROE) of 32.1%, and robust PAT margins at 9.7% in FY23 further bolstered investor sentiment. The proceeds from the IPO will be used for investment in its subsidiary, funding capex, working capital requirements, and investment in Nova Agri Sciences.
Ahead of the debut, the company s shares are trading with a premium of Rs 23 in the unlisted market. Considering the upper price band of Rs 41, the stock is expected to list with a premium of over 50%