Nova Agritech founder faces bribery probe in Andhra Pradesh
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IPO screener: All eyes on Nova Agritech listing today - The Hindu BusinessLine
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Stock Market Live Updates: Sensex and Nifty likely to remain subdued on continued selling by foreign investors
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Nova Agritech listed on exchanges with a 36.6% premium, debuting at Rs 56 on BSE and Rs 55 on NSE. The IPO received over 100 times subscription as non-institutional and institutional investors bid heavily. The company s solid financial track record and impressive ROE of 32.1% attracted analysts. Proceeds from the IPO will be used for subsidiary investment, capex, working capital, and investment in Nova Agri Sciences. Nova Agri Sciences contributes significantly to Nova Agritech s revenue by manufacturing crop protection products.