Nova Agritech IPO
Nova Agritech Limited (NOVAAGRI) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 31 January 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +70.7% (likely range +28% to +152%), day's high +85.1%, chance of a gain 97%. Actual: +34.1% at the open, +40.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 71,76,461 | 56,91,65,305 | 79.3x | |
| NII (HNI) total | 54,71,486 | 1,22,60,29,160 | 224x | |
| Big NII (above ₹10 lakh) | 36,47,657 | 81,16,66,195 | 223x | |
| Small NII (₹2-10 lakh) | 18,23,829 | 41,43,62,965 | 227x | |
| Retail | 1,27,66,799 | 98,45,38,955 | 77.1x | |
| Total | 2,54,14,746 | 2,77,97,33,420 | 109x |
Bids on NSE and BSE together, as published by NSE, as of 25 Jan 2024, 07:00 PM. Shares offered exclude the anchor portion. 30% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Nova Agritech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| Ratnaveer Precision EngineeringSep 2023 | 133x | 135x | 54.0x | 94.0x | ₹165 Cr | +25.7% | +32.0% |
| CSB BankNov 2019 | 62.2x | 165x | 44.5x | 86.9x | ₹410 Cr | +41.0% | +57.3% |
| Motisons JewellersDec 2023 | 157x | 234x | 122x | 160x | ₹154 Cr | +98.2% | +99.6% |
| Easy Trip PlannersMar 2021 | 77.5x | 382x | 70.4x | 159x | ₹513 Cr | +13.5% | +25.1% |
| Happiest Minds TechnologiesSep 2020 | 77.4x | 351x | 70.9x | 151x | ₹702 Cr | +110.8% | +137.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Keynote Financial Services | 5 | +4.8% | 40% |
| Bajaj Capital | 2 | +17.1% | 50% |
Offer documents (NSE)
Frequently asked
What is the Nova Agritech IPO price band and lot size? ₹39.0–41.0 per share, with a lot of 365 shares, so the smallest retail bid is ₹14,965.
How many times has it been subscribed? 109x overall: QIB 79.3x, NII 224x, retail 77.1x.
How did it list? It opened at ₹55.0, +34.1% against the issue price of ₹41.0, and closed its first day +40.9%.
