Nova Agritech Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Nova Agritech

CMP

60.11

-1.82 (-2.94%)

  • DRHP
₹41

Offer Price

₹ 143.81 Cr

Issue Size

₹ 14,965

Min Investment

109.37x

Times Subscribed

365

Lot size

Time Line

  • 23
    Jan 2024
    Open
  • 25
    Jan 2024
    Close
  • 29
    Jan 2024
    Finalisation of Basis of Allotment
  • 30
    Jan 2024
    Initiation of Refunds
  • 30
    Jan 2024
    Transfer of Shares to Demat Account
  • 31
    Jan 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Enhance its product portfolio by expanding its manufacturing capacities and increasing its competencies.

  • Continued focus on product registrations for domestic and international market expansion.

  • Expand to newer geographies including expanding its export business to newer and wider spectrum.

  • Its strategy is to deepen farmer interface by providing holistic solutions and improve its operational parameters.

  • Enabling "REACH" towards business tie-ups with academic, domestic and international business partners.

Products & Services

  • Nova Agritech Limted is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer driven solution approach.

Strengths

  • One stop solution for soil health management, crop nutrition, bio stimulant, bio pesticides, Integrated Pest Management (IPM) and crop protection through diversified branded product portfolio.

  • Established distribution network across various geographies through many dealers.

  • Strengthening farmer outreach through Nova Kisan Seva Kendra.

  • Technology driven product development and marketing.

  • Focus on ecologically sustainable and nutritionally balanced products.

Risks

  • The strength of its brands is crucial to the company growth and success and its may not succeed in continuing to maintain and develop the company brands.

  • The company propose to utilise portion of the Net Proceeds of the Offer for investment in its subsidiary, Nova Agri Sciences Private Limited for setting-up formulation plant and funding Capital Expenditure by the Company towards setting up its formulation plant, which may be subject to delays, cost overruns, and other risks and uncertainties.

  • The company intend to utilize a portion of the Net Proceeds towards investment in its subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant and towards funding Capital Expenditure in Nova Agritech Limited for expansion of the existing formulation plant. The company has yet to place orders for plant and machinery for the proposed new formulation plant and expansion of its existing formulation plant. Any delay in undertaking such and not adhering to the schedule of implementation could have a material adverse effect on the company business growth and prospects, financial condition and results of operations.

  • The company`s business depends on the Promoters and senior management and its ability to attract and retain key personnel. Any attrition rate of the company senior management may affect its business growth.

  • If the company is unable to effectively manage or expand the dealer network and operations or pursue its growth strategy and maintain healthy relations with existing dealers, The company sales may be affected and its may not achieve the company expected levels of profitability which may adversely affect its business prospects, financial condition and results of operations.

Company Promoters

Promoters Holding

Issue For IPO
84.27%
Pre Holding

84.27%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 185.59 (15.50%) 210.56 (13.50%) 38.27 (-)
Gross Profit 185.59 (15.50%) 210.56 (13.50%) 38.27 (-)
Net Income 185.59 (15.50%) 210.56 (13.50%) 38.27 (-)
Assets 185.59 (15.50%) 210.56 (13.50%) 38.27 (-)
Liabilities 185.59 (15.50%) 210.56 (13.50%) 38.27 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Nova Agritech Ltd 210.56 20.49 136.44 72.56 38.27 3.27 10.19 3.67 0.52
Aries Agro Ltd 472.24 17.13 519.84 519.84 7.05 13.17 190.05 3.29 0.39
Aimco Pesticides Ltd 206.19 -2.19 145.65 145.65 -4.72 -2.28 48.30 -1.50 0.27
Basant Agro Tech (India) Ltd 549.26 18.38 415.34 415.34 10.75 2.02 18.86 4.42 0.72
Best Agrolife Ltd 1,745.68 192.15 1,475.25 1,475.25 37.34 81.26 217.62 13.02 1.08
Bhagiradha Chemicals & Industries Ltd 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Heranba Industries Ltd 1,318.82 104.37 1,162.28 1,162.28 12.87 26.08 202.54 8.97 0.11
India Pesticides Ltd 884.94 143.24 920.87 920.87 18.52 12.46 67.14 15.55 0.00
Madras Fertilizers Ltd 3,447.09 185.33 1,856.76 1,856.76 -64.55 11.50 -17.70 9.98 -5.20
Dharmaj Crop Guard Ltd 533.55 33.11 438.52 438.52 10.30 12.03 95.10 7.55 0.16

Book Running Managers

  • Keynote Financial Services Ltd
  • Bajaj Capital Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

Sy No 251/A/1 Singannaguda (V),
Mulugu Mandal Siddipet,
Medak - 502279
Phone : +91 84 5425 3446 Email : ipo@novaagri.in www.novaagri.in

Offer Related Information

Initial public offering of 3,50,75,693 equity shares of face value of Rs. 2/- each ("Equity Shares") of the company for cash ata price of Rs. 41/- per equity share (including a share premium of Rs. 39 per equity share) ("Offer Price") aggregating to Rs. 143.81 crores (the "Offer") comprising a fresh offer of 2,73,17,073 equity shares aggregating to Rs. 112.00 crores by the company (the "Fresh Offer") and an offer for sale of up to 77,58,620 equity shares aggregating to Rs. 31.81 crores by... More

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