Nova Agri Tech IPO GMP

Nova Agri Tech Limited, a prominent player in the agricultural inputs manufacturing sector, has recently announced its Initial Public Offering (IPO) on both the NSE and BSE exchanges. The IPO, with a total issue size of Rs 143.81 Crores, includes a Fresh issue of Rs 112.00 Crores and an Offer for Sale (OFS) of Rs 31.81 Crores. As investors gear up for the subscription period from January 23rd to January 24th, 2024, this blog aims to delve into the Grey Market Premium (GMP) of Nova Agri Tech IPO.

Nova Agri Tech IPO GMP:

The Grey Market Premium (GMP) for Nova Agri Tech IPO, as of the latest update, stands at ₹13. This implies that the anticipated listing price is ₹54, calculated by adding the upper price band of ₹41 and the GMP. This estimates a potential gain of 31.71% per share. The Day-wise IPO GMP trend is provided in the table below: [ Last Updated: 31 Jan, 2024; 09:05]

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GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
31-01-2024₹41.00₹133600/50400₹54 (31.71%)
30-01-2024₹41.00₹133600/50400₹54 (31.71%)
29-01-2024₹41.00₹236400/89600₹64 (56.10%)
28-01-2024₹41.00₹236400/89600₹64 (56.10%)
27-01-2024₹41.00₹236400/89600₹64 (56.10%)
26-01-2024₹41.00₹236400/89600₹64 (56.10%)
25-01-2024₹41.00₹205500/77000₹61 (48.78%)
24-01-2024₹41.00₹205500/77000₹61 (48.78%)
23-01-2024₹41.00₹205500/77000₹61 (48.78%)
22-01-2024₹41.00₹205500/77000₹61 (48.78%)
21-01-2024₹41.00₹205500/77000₹61 (48.78%)
20-01-2024₹41.00₹205500/77000₹61 (48.78%)
19-01-2024₹41.00₹205500/77000₹61 (48.78%)
18-01-2024₹41.00₹0₹ (0%)

Also Read: Upcoming IPO in India

Latest IPO GMP:

For the most recent Grey Market Premium updates on Nova Agri Tech IPO and other offerings, investors can refer to the live GMP status on platforms like Stockesta.com. The platform regularly updates IPO GMP performance, allowing investors to track and compare GMP with actual listing prices.

Understanding IPO Grey Market Premium (GMP):

The Grey Market Premium (GMP) reflects the price at which an IPO is traded in an unofficial and unregulated grey market before its official listing. A positive GMP suggests potential profitability on the listing day, while a negative GMP indicates the possibility of a discount. However, it is crucial to note that IPO GMP is highly volatile, and investment decisions should consider various factors beyond GMP.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

About Nova Agri Tech:

Nova Agri Tech Limited, established in 2007 in Hyderabad, focuses on providing technology-based, farmer-centric solutions in soil health management, plant nutrition, and crop protection. With a diversified product portfolio, the company has gained recognition for environmentally sustainable and nutritionally balanced products.

Key Strengths of Nova Agri Tech:

  1. One-stop solution across various agricultural product categories.
  2. Established distribution network with approximately 10,900 dealers.
  3. Farmer outreach through Nova Kisan Seva Kendra.
  4. Technology-driven product development and marketing.
  5. Focus on ecologically sustainable and nutritionally balanced products.
  6. Experienced Management Team and Promoters.
  7. Well-equipped Research & Development facility.

Also Read: When Can a Company Go for IPO in India

Nova Agri Tech IPO Objectives:

The net proceeds from the Fresh Offer will be utilized for:

  1. Investment in the subsidiary, Nova Agri Sciences Private Limited.
  2. Funding Capital Expenditure for the expansion of the existing formulation plant.
  3. Funding working capital requirements of the company.
  4. Investment in the subsidiary for funding working capital requirements.
  5. General corporate purposes.

Nova Agri Tech IPO Dates:

  • IPO Open Date: 23-01-2024
  • IPO Close Date: 25-01-2024
  • Basis of Allotment Finalisation Date: 29-01-2024
  • Refunds Initiation: 30-01-2024
  • Credit of Shares to Demat Account: 30-01-2024
  • IPO Listing Date: 31-01-2024

Also Read: What is GMP in IPO: Understanding Grey Market Premium (GMP) in IPOs

Nova AgriTech IPO

Conclusion:

Nova Agri Tech’s IPO is generating significant interest in the market, evident from the positive Grey Market Premium. Investors should, however, approach investment decisions cautiously, considering all relevant factors beyond GMP. The company’s strong market presence, diversified product portfolio, and focus on sustainable agriculture make it an interesting prospect in the agricultural sector. As the IPO subscription period approaches, investors should stay updated on the latest developments and market trends.

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