Nova Agritech shares list at 37% premium over IPO price

Nova Agritech, an agri-input manufacturer, witnessed a solid listing for its IPO. The company's strong market position, diverse product portfolio, and effective marketing strategy contributed to its growth potential. Nova Agritech's consistent financial performance, impressive return on equity (ROE) of 32.1%, and robust PAT margins at 9.7% in FY23 further bolstered investor sentiment. The proceeds from the IPO will be used for investment in its subsidiary, funding capex, working capital requirements, and investment in Nova Agri Sciences.

Nova Agritech IPO comprises a fresh equity issue of Rs 112 crore and an offer-for-sale (OFS) of 77.58 lakh shares, The IPO opens today and closes on January 25. The company has fixed a price band of Rs 39-41 for the IPO and investors can bid for 365 shares in one lot. About 50% of the shares will be available for allocation to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 35% to retail investors.

According to market analysts, Blue Jet Healthcare's shares are fetching a premium of Rs 22 in the unlisted market. Most analysts have a 'subscribe' recommendation on the IPO, which is entirely an offer for sale of 2.42 crore shares.

Nova Agritech IPO subscription status on day 3: overall subscription at 66.13 times so far, retail portion subscribed 60.41 times, NII portion subscribed 154.67 times, and QIB portion booked 8.81 times.

India Business News: Find out what investors should do and what analysts have to say about the Nova Agritech IPO. Get insights into the subscription numbers and expert recommendations.

Spectrum Talent Management's initial public offering (IPO) was subscribed 1.05 times on Day 2, with bids received for 60,88,000 shares against 6,077,600 shares on offer. The price band for the offering is set at ₹169 to ₹173 per share.

Essen Speciality Films Ltd shares listed on NSE SME exchange at a premium of 30.8% above issue price. IPO was oversubscribed 71 times on last day.

Utkarsh Small Finance Bank's IPO has been subscribed 10.67 so far times on Day 2, with strong response from retail and non institutional investors.

If the current trends are sustained, Azad Engineering's shares are expected to list at a premium of 53%. The issue was priced in the range of Rs 499-524.

Muthoot Microfin share price updates: The IPO of Muthoot Microfin had received 11.52 times subscription on the last day of the bidding.