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Founded in Hyderabad in May 2007, Nova Agri Tech Limited manufactures products that help farmers grow crops better. The main focus is on three things: Soil health, plant nutrition and crop protection. The products are manufactured using technology and are designed to be environmentally friendly and nutritious. The company collaborates with farmers to gain insight into their needs and develop customized solutions that meet their requirements.
The company manufactures, distributes and markets a broad range of product categories, including (a) soil health products, (b) crop nutrition products, (c) biostimulants, (d) biopesticides, (e) integrated pest management (IPM) products, (f) new technologies and (g) crop protection products. The subsidiary Nova Agri Sciences Private Limited is currently responsible for the production of crop protection products.
As of January 31, 2023, the company has received a total of 629 product registrations. These registrations are divided into four categories, namely soil health management, plant nutrition, biopesticides and crop protection. These include 7 registrations in the soil health management category, 168 registrations in the plant nutrition category, 4 registrations in the biopesticide category and 450 registrations in the crop protection category.
By January 31, 2023, the company has 13 Kisan Mitras and 253 Kisan Sevaks at its base.
As on January 31, 2023, the Company has a team of 32 NKSK Coordinators, all of whom have a degree in Agricultural Sciences and are on the Company’s payroll.The NKSK program comprises three levels: NKSK Coordinators, Kisan Mitras and Kisan Sevaks. This ensures personal contact with the farmers at the grassroots level.
The company employs 215 people in its sales team. They manage brand sales, distribution channels, and product promotion.
Nova Agri Tech IPO Details
| IPO Date | to |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | [.] shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹140.00 Cr) |
| Offer for Sale | 7,758,620 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 65,202,740 |
Nova Agri Tech IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Nova Agri Tech IPO Promoter Holding
The promoters of the company are Suraksha Agri Retails (India) Private Limited, Malathi S, and Kiran Kumar Atukuri.
| Share Holding Pre Issue | 84.27% |
| Share Holding Post Issue |
Nova Agri Tech Limited Financial Information (Restated Consolidated)
Nova Agri Tech Limited’s revenue increased by 15.34% and profit after tax (PAT) rose by 117.29% between the financial year ending with March 31, 2022 and March 31, 2021.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 171.25 | 160.30 | 147.44 |
| Revenue | 81.98 | 185.61 | 160.93 |
| Profit After Tax | 6.86 | 13.69 | 6.30 |
| Net Worth | 50.09 | 43.19 | 29.43 |
| Reserves and Surplus | 36.96 | 30.10 | 16.41 |
| Total Borrowing | 66.34 | 64.27 | 51.10 |
| Amount in ₹ Crore | |||
Objects of the Issue (Nova Agri Tech IPO Objectives)
The net proceeds of the Fresh Offer, i.e. gross proceeds of the Fresh Offer less the offer expenses apportioned to the company (“Net Proceeds”) are proposed to be utilised in the following manner:
- Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant;
- Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant;
- Funding of working capital requirements of the company;
- Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements; and
- General corporate purposes.
