Subscription status for the Nova IPO: Due to the tremendous demand from retail and non-institutional investors, the first hour was completely booked. Bookings for Qualified Institutional Buyers (QIBs) are not yet complete. At the end of day 1, the subscription status for the Nova IPO is 9.75 times.
Subscription status for the Nova Agritech IPO: Because of the tremendous demand from retail and non-institutional investors (NIIs), the IPO was fully booked in the first hour of its opening. Bookings for Qualified Institutional Buyers (QIBs) are not yet complete. At the end of day 1, the subscription status for the Nova IPO is 9.75 times.
Retail investors subscribed 12.77 times, non-institutional investors (NII) 14.68 times, and qualified institutional buyers (QIBs) 62% of the first day of the Nova Agritech IPO.
The subscription deadline for the Nova Agritech IPO has been rescheduled for today, Tuesday, January 23, with a closing date of Thursday, January 25. The Nova Agritech initial public offering (IPO) was originally set to begin on Monday, January 22. However, due to a national holiday commemorating the opening of the Ram Temple in the northern city of Ayodhya, the equity market was closed on Monday. The opening was therefore rescheduled. The price range for the Nova Agritech initial public offering (IPO) is ₹39 to ₹41 for each equity share, with a face value of ₹2.
365 equity shares were offered in the Nova Agritech IPO, and additional lots of 365 equity shares were offered as well. In the Nova Agritech initial public offering (IPO), a minimum of 15% of the shares are reserved for non-institutional institutional investors (NII), a minimum of 35% of the shares are reserved for retail investors, and a maximum of 50% of the shares are reserved for qualified institutional buyers (QIB).
Nova Agritech IPO Subscription Status
According to BSE data, bids for 24,77,91,200 shares have been received for the Nova IPO, while 2,54,14,746 shares are on offer.
In the retail investor portion of the Nova Agritech IPO, bids were received for 16,30,36,740 shares, while the total number of shares offered was 1,27,66,799 shares.
Out of the 54,71,486 shares on offer for this segment, bids for 8,03,35,770 shares were received by the non-institutional investors portion of the Nova IPO.
44,18,690 shares were bid for in the QIBs section of the Nova Agritech IPO, compared to the 71,76,461 shares that were offered for this segment.
Nova Agritech IPO details
The ₹143.81 crore Nova IPO consists of an offer-for-sale (OFS) of 7,758,620 equity shares of ₹2 that total up to ₹31.81 crore from the selling shareholder, Nutalapati Venkatasubbarao, and a new issue of ₹112 crore.
The following is the anticipated use of the issue’s net proceeds: Finance the company’s working capital needs, working capital needs for the construction of a new formula factory, working capital needs for the expansion of an existing formula plant, working capital needs for the company, and general business purposes. Investment in the subsidiary Nova Agri Sciences Private Limited.
Bigshare Services Pvt Ltd is the lead manager for the Nova AgriTech IPO, while Keynote Financial Services Ltd and Bajaj Capital Limited are
Nova Agritech IPO GMP today
The grey market premium, or GMP, for the Nova IPO is +20, or about four trading sessions. According to investorgain.com, this shows that the price of Nova Agritech shares were trading at a premium of ₹20 on the black market.
Nova Agritech’s estimated listing price was ₹61 per share, 48.78% more than the IPO price of ₹41, taking into account the upper end of the IPO price band and the current premium in the grey market.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Namaskaraindia.com. We advise investors to check with certified experts before making any investment decision.
