The scrip was listed at Rs 56, exhibiting a premium of 36.59% to the issue price.
So far, the stock has hit a high of 58.79 and a low of 55. On the BSE, over 13.78 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Nova Agritech subscribed 109.37 times. The issue opened for bidding on 23 January 2024 and it closed on 25 January 2024. The price band of the IPO was fixed at Rs 39-41 per share.
The offer comprised of fresh issue of equity shares aggregating up to Rs 112 crore and offer for sale of up to 77,58,620 equity shares.
The company proposed to utilize the net proceeds from the fresh issue to invest in its subsidiary, NASPL, for setting up a new formulation plant, amounting to Rs 14.20 crore; funding capital expenditure for...
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