Nova Agritech IPO subscribed 109.36 times on Final Day

The Initial Public Offering of Nova Agritech Limited was subscribed 109.37 times on the final day of bidding; the highest in the calendar year 2024.

The issue received bids of 2,77,94,75,000 shares against the offered 2,54,14,746 equity shares, at a price band of ₹39-41, according to the data available on the stock exchanges.

Non-Institutional Investors Portion with 224.06 times, Retail Portion was subscribed 77.10 times, whereas Qualified Institutional Buyer Portion subscribed 79.31 times.

The issue with a face value of Rs 2 per equity share consists of a fresh issue of equity shares worth up to Rs 112 crore and an offer-for-sale (OFS) of up to 77,58,620 equity shares by Nutalapati Venkatasubbarao.

Keynote Financial Services Limited and Bajaj Capital Limited are the book running lead managers and Bigshare Services Pvt Ltd is the registrar to the offer.

Source : Equity Bulls

Keywords

NovaAgritech IPO FundRaising OverSubscription