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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. ....
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. ....