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%
Most analysts have given a subscribe recommendation to the issue over the company s solid financial track record in a highly competitive sector. The company has delivered an impressive return on equity of 32.1% and boasts robust PAT margins at 9.7% in FY23.
Most analysts gave a subscribe recommendation to the Nova Agritech IPO over the company s solid financial track record in a highly competitive sector. However, despite a strong subscription, the GMP of the was slightly down and is currently about 50% above the issue price.
Hyderabad-based Nova AgriTech focuses on three segments namely soil health, plant nutrition and crop protection. The company was incorporated in May 2007.