Founded in Hyderabad in May 2007, Nova AgriTech 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 AgriTech IPO Details

IPO Date January 23, 2024 to January 25, 2024
Listing Date [.]
Face Value ₹2 per share
Price Band ₹39 to ₹41 per share
Lot Size 365 Shares
Total Issue Size 35,075,693 shares
(aggregating up to ₹143.81 Cr)
Fresh Issue 27,317,073 shares
(aggregating up to ₹112.00 Cr)
Offer for Sale 7,758,620 shares of ₹2
(aggregating up to ₹31.81 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 65,202,740
Share holding post issue 92,519,813


Nova AgriTech 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 AgriTech IPO Anchor Investors Details

Nova AgriTech IPO raises Rs 43.14 crore from anchor investors. Nova AgriTech IPO Anchor bid date is January 19, 2024.

Bid Date January 19, 2024
Shares Offered 10,522,220
Anchor Portion Size (In Cr.) 43.14
Anchor lock-in period end date for 50% shares (30 Days) March 12, 2024
Anchor lock-in period end date for remaining shares (90 Days) June 11, 2024


Nova AgriTech IPO Timeline (Tentative Schedule)

Nova AgriTech IPO opens on January 23, 2024, and closes on January 25, 2024.

IPO Open Date Tuesday, January 23, 2024
IPO Close Date Thursday, January 25, 2024
Basis of Allotment Monday, January 29, 2024
Initiation of Refunds Tuesday, January 30, 2024
Credit of Shares to Demat Tuesday, January 30, 2024
Listing Date Wednesday, January 31, 2024
Cut-off time for UPI mandate confirmation 5 PM on January 25, 2024


Nova AgriTech IPO Lot Size

Investors can bid for a minimum of 365 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 365 ₹14,965
Retail (Max) 13 4745 ₹194,545
S-HNI (Min) 14 5,110 ₹209,510
S-HNI (Max) 66 24,090 ₹987,690
B-HNI (Min) 67 24,455 ₹1,002,655


Nova AgriTech 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 59.39%


Nova AgriTech Limited Financial Information (Restated Consolidated)

Period Ended 30 Sep 2023 31 Mar 2023 22 Mar 2022 31 Mar 2021
Assets 196.37 180.78 160.30 147.44
Revenue 103.24 210.93 185.61 160.93
Profit After Tax 10.38 20.49 13.69 6.30
Net Worth 74.23 63.88 43.19 29.43
Reserves and Surplus 60.97 50.59 30.10 16.41
Total Borrowing 68.50 70.96 64.27 51.10
Amount in ₹ Crore


Key Performance Indicator

The market capitalization of Nova AgriTech IPO is Rs 379.33 Cr.

KPI Values
ROE 38.27%
ROCE 27.25%
Debt/Equity 1.11
RoNW 32.08%
P/BV 4.06


Objects of the Issue (Nova AgriTech 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:

  1. Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant;
  2. Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant;
  3. Funding of working capital requirements of the company;
  4. Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements; and
  5. General corporate purposes.