{"id":37009,"date":"2024-01-20T10:21:20","date_gmt":"2024-01-20T04:51:20","guid":{"rendered":"https:\/\/flattrade.in\/kosh\/?p=37009"},"modified":"2024-01-20T10:29:15","modified_gmt":"2024-01-20T04:59:15","slug":"nova-agritech-limited-ipo","status":"publish","type":"post","link":"https:\/\/flattrade.in\/kosh\/nova-agritech-limited-ipo\/","title":{"rendered":"Nova AgriTech Limited IPO"},"content":{"rendered":"\t\t
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Nova AgriTech IPO is a book-built issue of Rs 143.81 crores. The issue is a combination of a fresh issue of shares aggregating to Rs 112.00 crores and an offer for sale of 77,58,620 shares aggregating to Rs 31.81 crores.<\/span><\/p>

Nova AgriTech IPO opens for subscription on January 23, 2024, and closes on January 25, 2024. The price band is set at \u20b939 to \u20b941 per share. The minimum lot size for an application is 365 Shares.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Summary<\/strong><\/span><\/p>

\u00a0<\/b><\/strong>The company is an agri-input manufacturer offering soil health management, crop nutrition, and crop protection products focused on a tech-based farmer-driven solution approach, wherein mainly they offer ecologically sustainable and nutritionally balanced products based on their R&D.<\/span><\/p>

The company\u2019s dealer network is currently spread across 16 states of India. Also, they have entered into marketing, distribution, and supply agreements with certain third parties in Bangladesh, Sri Lanka, and Vietnam and are currently awaiting the necessary permission to start business in these jurisdictions.<\/span><\/p>

In addition, they run a farmer outreach program called Nova Kisan Seva Kendra program (NKSK) through which they educate farmers on various crop management practices. The key objective of NKSK is to provide farmers with need-based solutions, products, technologies, methodologies, know-how, and usage skills, thereby enhancing farm yield<\/span><\/p>

They also provide farming inputs to farmers regarding the appropriate amount of dosage and application of their products through their IOT-based solutions such as the soil health scanning device called \u201cNOVA BHUPARIKSHAK\u201d and also, the drone called \u201cNOVA AGRIBOT\u201d.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company strengths<\/strong><\/span><\/p>

As of January 31, 2023, They have received a total of 629 product registrations comprising 7 registrations in the soil health management category, 168 registrations in the crop nutrition category, 4 registrations in the biopesticide category, and 450 registrations in the crop protection category.<\/span><\/p>

Through their R&D efforts, they constantly update and enhance their product portfolio to match the evolving landscape of the industry. They have a total dealer network comprising approximately 10,900 dealers out of which approximately 6200 dealers are active to whom they have distributed and sold their products during the current financial year.<\/span><\/p>

Their relationship with the dealers and the availability of their own sales force, enables them to introduce new products promptly and also allows them to make them accessible to as many farmers as possible.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Company Financials<\/strong><\/span><\/p>
Period Ended<\/strong><\/span><\/td>30 Sep 2023<\/strong><\/span><\/td>31 Mar 2023<\/strong><\/span><\/td>22 Mar 2022<\/strong><\/span><\/td>31 Mar 2021<\/strong><\/span><\/td><\/tr>
Assets<\/strong><\/span><\/td>196.37<\/span><\/td>180.78<\/span><\/td>160.30<\/span><\/td>147.44<\/span><\/td><\/tr>
Revenue<\/strong><\/span><\/td>103.24<\/span><\/td>210.93<\/span><\/td>185.61<\/span><\/td>160.93<\/span><\/td><\/tr>
Profit After Tax<\/strong><\/span><\/td>10.38<\/span><\/td>20.49<\/span><\/td>13.69<\/span><\/td>6.30<\/span><\/td><\/tr>
Net Worth<\/strong><\/span><\/td>74.23<\/span><\/td>63.88<\/span><\/td>43.19<\/span><\/td>29.43<\/span><\/td><\/tr>
Reserves and Surplus<\/strong><\/span><\/td>60.97<\/span><\/td>50.59<\/span><\/td>30.10<\/span><\/td>16.41<\/span><\/td><\/tr>
Total Borrowing<\/strong><\/span><\/td>68.50<\/span><\/td>70.96<\/span><\/td>64.27<\/span><\/td>51.10<\/span><\/td><\/tr><\/tbody><\/table>

Amount in crore<\/span><\/p><\/td><\/tr><\/tbody><\/table>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Objectives of the IPO<\/strong><\/span><\/p>