24, February, 2024
HomeBusinessNova AgriTech IPO: A Stellar Debut in the Market with Strong Investor Response

Nova AgriTech IPO: A Stellar Debut in the Market with Strong Investor Response

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Nova AgriTech IPO allotment results were officially declared on January 30, marking a crucial step for eager investors. Those fortunate enough to secure shares are now anxiously anticipating the Nova AgriTech IPO listing scheduled for today, January 31.

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The Nova AgriTech IPO witnessed an overwhelming response from investors during its three-day subscription period, achieving a remarkable oversubscription rate of over 109 times.

Market expert Arun Kejriwal, Founder of Kejriwal Research and Investment Services, shared his insights, projecting an optimistic scenario for Nova Agritech’s listing. “I am expecting Nova Agritech IPO listing at a premium of ₹14 to ₹20 per share. This means allottees may anticipate the Nova Agritech share price to open at ₹55 to ₹61 per equity share.”

For investors who were not fortunate enough to secure an allotment, timely refunds are in place to ensure a swift process. While the basis of allotment was finalized on January 30, investors whose bids were rejected likely received their IPO application refunds on the same day or will receive them today, January 31.

Nova AgriTech initiated the refund process on January 30, and the IPO bidders whose bids were not accepted should see the refunded amount credited to their demat accounts promptly, if not already received.

To check the Nova AgriTech IPO allotment status, investors can conveniently log in to the BSE website or the official registrar’s website, Bigshare Services Private Limited.

As for the grey market premium (GMP), today’s Nova Agritech IPO GMP stands at ₹13 per share, indicating an expected listing premium of 31.71% to the issue price of ₹41, reaching ₹54 per share, as per observations from stock market experts.

Quick Recap of Nova AgriTech IPO Details:

  • Subscription: Opened on January 23 and closed on January 25.
  • Allotment Finalized: January 30.
  • Listing on BSE and NSE: January 31.

The Nova AgriTech IPO, valued at ₹143.81 crores, comprised a fresh issue of 2.73 crore equity shares amounting to ₹112 crores and an offer for sale (OFS) of 78 lakh shares totaling ₹31.81 crores.

Read Also | Nova AgriTech IPO Allotment and Listing Update: What Investors Need to Know

With a price band set at ₹39 to ₹41 per share and a minimum lot size of 365 shares, Nova AgriTech IPO attracted widespread attention in the market. Keynote Financial Services Ltd and Bajaj Capital Limited served as the book running lead managers, and Bigshare Services Pvt Ltd acted as the IPO registrar, overseeing the seamless process of this significant market debut.

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