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IPO screener: All eyes on Nova Agritech listing today - The Hindu BusinessLine

IPO screener: All eyes on Nova Agritech listing today - The Hindu BusinessLine
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Nova Agritech share price: Nova Agritech shares list at 37% premium over IPO price

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 stock lists at 36% premium to IPO price

Nova Agritech makes a solid debut at the bourses Should you hold or exit?

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.

Nova Agritech lists at a premium of 35%; here is all you need to know

Nova Agritech lists at a premium of 35%; here is all you need to know
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