Nova AgriTech IPO allotment status today: Verify Application, GMP, and Listing Date.
Nova AgriTech IPO allotment status today: Nova AgriTech, headquartered in Hyderabad, specializes in three key areas: ensuring soil health, providing plant nutrition, and offering solutions for crop protection.
Nova AgriTech is set to determine the basis of allotment for its recent initial public offering (IPO) on Monday, January 29. Investors who participated in the bidding process can expect to receive notifications, alerts, or emails regarding the debiting of funds or the revocation of the IPO mandate by the end of Monday. The company, specializing in crop nutrition, garnered a robust response from investors during the bidding phase.
Nova AgriTech's IPO, which ran from January 23 to January 25, had a price band set at Rs 39-41 per share. The company successfully raised approximately Rs 143.81 crore through its primary route, involving a fresh share sale of Rs 112 crore and an offer-for-sale (OFS) of up to 77.58 lakh equity shares.
The IPO witnessed remarkable interest, being oversubscribed 109.37 times. Non-institutional bidders led the way with an impressive subscription of 224.08 times, while qualified institutional bidders (QIBs) subscribed 79.31 times, and retail investors' portion was subscribed 77.12 times.
Despite broader market volatility, Nova AgriTech's grey market premium (GMP) experienced an upward trend, indicating strong investor interest. The latest reports suggest a premium of Rs 23 per share, hinting at a potential listing pop of 55-56 percent. Previously, the GMP for Nova AgriTech stood at Rs 20 per share in the unofficial market.
Established in May 2007 and headquartered in Hyderabad, Nova AgriTech focuses on three key segments: soil health, plant nutrition, and crop protection.
Brokerage firms generally held a positive outlook on the Nova AgriTech IPO. Analysts were impressed by the company's robust business model, its strategic focus on the agricultural sector, healthy margins, and potential for future expansion. Despite some skepticism, many recommended subscribing to the issue for long-term gains, acknowledging the rich valuations and geographical concentration.
Handling the IPO process, Bajaj Capital and Keynote Financial Services served as the book running lead managers, while Bigshare Services took on the role of the registrar for the issue. The company's shares are scheduled to be listed on both the BSE and NSE, with January 31, 2024, being the tentative date for listing.
Investors who participated in the IPO can check the allotment status on the BSE website's IPO application check page. They need to select 'Equity' under the issue type, choose Nova AgriTech Limited from the dropbox, input the application number and PAN card number, and complete the 'I am not a Robot' verification before submitting.
Alternatively, investors can verify the allotment status on the online portal of Bigshare Services, the IPO registrar. By selecting Nova AgriTech in the dropbox, choosing the application type, and providing either the PAN card number, application number, or DP client ID, investors can search for their allotment status after completing the captcha.
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