Medak based Agri-input Manufacturing Company Nova Agritech files DRHP with SEBI for the proposed IPO; Key Details here

Nova Agritech is into Agriculture Agri-input Manufacturing and is looking raise funds through Fresh Issue and Offer For Sale

Nova AgritechIPO: Fresh Issue of Equity shares aggregating up to Rs.140 crores. Offer of Sale of 7,758,620 Equity Shares through public issue IPO

Nova Agritech IPO: Nova Agritech Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.

Promoters of Nova Agritech are Suraksha Agri Retails (India) Private Limited, Malathi S and Kiran Kumar Atukuri. and holds 84.27% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 140 Cr and an Offer for Sale of up to 77,58,620 Equity Shares.
• Keynote Financial Services, Bajaj Capital have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Bigshare Services Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 140 Crs and offer-for-sale (OFS) of up to 7,758,620 equity shares by Nutalapati Venkatasubbarao, who will offload up to 77,58,620 Equity Shares...

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Objects of the issue:
Investment in the subsidiary,, Funding Capital Expenditure, Funding working Capital.

About Company:
Nova Agritech established in 2007, is agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer driven solutions and R&D. It manufacture, distribute and market product categories consisting of (a) soil health management products; (b) crop nutrition products; (c) bio stimulant products; (d) bio pesticide products (e) Integrated Pest Management (IPM) products; (f) new technologies; and (g) crop protection products.
Company received a total of 629 product registrations comprising of 7 registrations in the soil health management category, 168 registrations in the crop nutrition category, 4 registrations in bio pesticide category and 450 registrations in the crop protection category.
Company has total dealer network comprising of approximately 10,900 dealers spread across 16 states and 2 in Nepal.

Company's manufacturing facilities are situated at, Singannaguda Village, Mulugu Mandal in Siddipet District ofTelangana and spread over an area of 12.05 acres. Company has a team of 9 employees in its R&D division.

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About Industry:
Primary industry in which company operates is Crop nutrition industry primarily consists fertilizers (chemical, organic an d bio-fertilizers) and bio-stimulants. Fertilizer is any material of natural or synthetic origin that is applied to plant tissues or soil to supply plant nutrients. For most modern agricultural practices, fertilization focuses on three main macro nutrients: Nitrogen (N), Phosphorous (P) and Potassium (K). Fertilizers are mainly classified as – i. Chemical fertilizers ii. Organic fertilizers iii. Biofertilizers.

Source: SEBI, BSE, NSE, DRHP, Nova Agritech, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.