Introduction
The Nova Agritech IPO, which took place from January 23 to January 25, has garnered significant attention, with the issue being oversubscribed over 109 times. The company, focusing on soil health, plant nutrition, and crop protection, is set to reveal the basis of allotment for its IPO on January 29, with the anticipated listing date on Wednesday, January 31, 2024.
Allotment Status
Investors who bid for the issue can check the allotment status online at the BSE website or the online portal of Bigshare Services, the registrar to the issue. They can select the IPO of Nova Agritech, choose the type of application, and enter the PAN card number, application number, or DP client ID to check the status.
Subscription and Listing
The IPO, with a price range of Rs 39-41 per share, raised around Rs 143.81 crore from its primary route. The strong response from investors during the bidding process has led to anticipation regarding the listing date, which is expected to be on January 31, 2024.
Analyst Views
Brokerage firms have expressed positivity towards the Nova Agritech IPO, commending the company’s strong business model, focus in the agri sector, healthy margins, and expansion potential. While some have maintained a cautious stance due to rich valuations and geographical concentration, they have suggested long-term subscription for potential gains.
Conclusion
The Nova Agritech IPO has generated significant interest and is set to mark its listing on the BSE and NSE. Investors are advised to stay informed about the allotment status and the subsequent listing date to make well-informed decisions regarding their investments.
