HomeTrending TopicNova AgriTech IPO Allotment Status: Application, GMP, and Listing Date Update.

Nova AgriTech IPO Allotment Status: Application, GMP, and Listing Date Update.

Hyderabad-based Nova AgriTech, a company focusing on soil health, plant nutrition, and crop protection, is set to finalize the basis of allotment for its recent initial public offer (IPO) on Monday, January 29. Investors who participated in the bidding process for the IPO will receive notifications regarding the debit of funds or revocations of IPO mandate by the end of Monday.

Strong Investor Response
The Nova AgriTech IPO, which ran from January 23 to January 25, received a robust response from investors, leading to a subscription of 109.37 times. The IPO price band was set at Rs 39-41 per share, and the company raised approximately Rs 143.81 crore from its primary route.

Grey Market Premium and Listing Date
Despite market volatility, the grey market premium (GMP) for Nova AgriTech has seen an increase, with the company commanding a premium of Rs 23 per share, indicating a potential listing pop of 55-56 percent. The shares of Nova AgriTech are scheduled to be listed on both BSE and NSE on January 31, 2024, Wednesday.

Brokerage Firms’ Views
Brokerage firms have expressed varying opinions on the Nova AgriTech IPO. While some have been positive about the company’s strong business model, focus in the agricultural sector, margins, and expansion potential, others have been more cautious due to rich valuations and geographical concentration.

Allotment Status Check
Investors who participated in the Nova AgriTech IPO can check the allotment status on the BSE website’s IPO application check page or the online portal of Bigshare Services, the registrar to the issue. By entering the necessary details, such as the application number and PAN card number, investors can access the allotment status for their applications.

Incorporated in 2007, Nova AgriTech has garnered significant attention from investors, and the upcoming listing is anticipated to be a key event in the company’s journey as it enters the public market.

Amit Kumar
Amit Kumarhttps://trendworldnews.com/
Founder of Trend World News and I am a professional blogger, web design and SEO analyst, blog content writer, and social media specialist. With a BCA degree, they bring technical expertise and a passion for creating captivating online experiences. Their skills in web design, SEO, and content writing drive organic traffic and engage readers. As a social media specialist, they enhance brand visibility and foster connections with audiences. Continuously learning and staying up-to-date, I delivers exceptional results in the ever-evolving digital landscape.
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