All you need to know about

NOVA AGRITECH LIMITED IPO

Issue Details

Issue Amount : `144 Crore

Post Issue Implied Market Cap : `379 Crore
Face Value : 2 per share
Price Band : `39 - `41
Lot Size : 365 shares
Registrar : Bigshare Services Pvt. Ltd.
Source : BRLM

Offer Breakup
Issue size - No. of Shares Issue size
Category Allocation
Lower band Upper band (Rs in Cr)

QIB 50% 1,82,38,283 1,75,37,846 71.91

NIB 15% 54,71,486 52,61,354 21.57

Retail 35% 1,27,66,799 1,22,76,493 50.33

Total 100% 3,64,76,568 3,50,75,693 143.81

Source : BRLM
.
 IPO timeline `
Issue opens on: `

23
Tuesday, Jan 23, 2024

Issue closes on: JAN

Thursday Jan 25, 2024

29 Finalization of 30 Refunds/Unblocking
Jan 2024 basis of allotment Jan 2024 ASBA fund

30 Credit of equity 31 Trading

Jan 2024 shares to DP account Jan 2024 commences

Source - BRLM. Dates are tentative

The objective of the offer

The company proposes to utilize the Net Proceeds
towards the following:
Investment in our subsidiary, Nova Agri Sciences Private
Limited for setting-up a new formulation plant.
Funding Capital Expenditure by the company, towards
expansion of its existing formulation plant.
Funding of working capital requirement of the company.
Investment in its subsidiary, Nova Agri Sciences Private
Limited, for funding working capital requirements.
General corporate purposes
`
Source - RHP
About the company
The company is an agri-input manufacturer offering soil health management, crop nutrition
and crop protection products focused on tech-based farmer driven solution approach,
wherein it mainly offers ecologically sustainable and nutritionally balanced products based on
the Research and Development. It manufactures, distributes and markets a wide range of
product categories consisting of soil health management products; crop nutrition products;
biostimulant products; bio pesticide products; Integrated pest management products; new
technologies; and crop protection products. Currently, the crop protection products are
manufactured by its subsidiary Nova Agri Sciences Private Limited.

As on November 30, 2023, it has received a total of 720 product registrations comprising of 7
registrations in the soil health management category, 176 registrations in the crop nutrition
category, 4 registrations in bio pesticide category, 7 registrations under technical indigenous
manufacture and 526 registrations in the crop protection category. All of the 526 registrations
in the crop protection category are in the name of Nova Agri Sciences Private Limited. Further,
it has applied for 14 registrations for new products across various categories in the name of
Nova Agri Sciences Private Limited (NASPL) and 22 new registrations in the name of Nova
Agritech Limited (NATL).

It has a total dealer network of approximately 11,722 dealers out of which approximately
6,769 dealers are active to whom we have distributed and sold its products during the current
financial year. The dealer network is currently spread across 16 states of India namely Andhra
Pradesh, Telangana, Maharashtra, Karnataka, Madhya Pradesh, Rajasthan, Chhattisgarh,
Tamil Nadu, Uttar Pradesh, Odisha, West Bengal, Bihar, Gujarat, Jharkhand, Uttarakhand and
Jammu & Kashmir and 02 in Nepal. It has also entered into marketing, distribution and supply
agreements with certain third parties in Bangladesh, Sri Lanka and Vietnam and are currently
awaiting the necessary permission to start business in these jurisdictions.

Source : RHP
Strengths

Established distribution Strengthening farmer

network across various outreach through Nova Kisan
geographies through many Seva Kendra.
dealers.

Technology driven product Focus on ecologically

development and marketing. sustainable and nutritionally
balanced products.

Source : RHP

Risks

Slowdown in economic It do not have long-term

growth in India or the other agreements with the
countries in which it suppliers of raw material.
operates.

It may experience loss of, or Its ability to obtain/ renew

a decrease in, revenue due to registration of our products.
lower manufacturing levels.

Source : RHP
 Important Financials Data
For the year/period ended (` in Crore)

Particulars As at As at As at As at
(`, in crore) Sept 30, March 31, March 31, March 31,
2023 2023 2022 2021

Share Capital 12.54 12.54 12.54 12.54

Revenue from
Operations 103.22 210.56 185.57 160.58

EBITDA 38.72 27.78 17.80

19.35

Net Profit for the

period 10.38 20.49 13.69 6.30

EPS – Basic (₹) 5.04 5.45 2.48 5.18

Net Asset Value

15.03 38.27 37.70 24.08
(₹) as stated FYXX

Source : RHP/BRLM.
 Peer Comparison
Following is the comparison with its peer group companies listed in India and in the same line of business as the company:

Name of
Name of Face value
Company
Total income EPSP/E EPS NAV EV/ P/E P/E RoNW
Company (₹ per share) (₹ in lakhs Ratio
(Basic) (Diluted) (₹ perEBITDA (%)
(₹) (₹) share)

Nova Agritech
2.00 21,093.35 3.27 3.27 10.09 NA 38.27
Limited

Listed Peers

Aries Agro Ltd 10.00 48,107.54 13.17 13.17 186.75 15.44 6.82

Aimco Pesticides
10.00 20,730.93 -2.28 -2.28 48.30 -56.62 -4.52
Limited

Basant Agrotech 1.00 55,019.32 2.02 2.02 18.86 10.54 11.34

Limited

Best Agrolife 10.00 1,51,004.91 19.91 19.91 152.04 41.93 14.02

Limited

Bhagiradha
Chemicals & 10.00 50,335.03 44.35 44.35 301.04 11.30 17.95
Industries Ltd

Heranba Industries 10.00 1,33,796.00 27.52 27.52 203.96 13.56 14.39

Limited

India Pesticides 1.00 89,812.80 12.57 12.57 67.30 29.51 20.44

Limited

Madras Fertilizers 10.00 3,46,140.00 11.5 11.5 -17.82 9.35 -46.77

Limited

Dharmaj Crop
10.00 53,805.90 12.03 12.03 95.10 21.89 16.30
Guard Limited

Source for Industry Peer information included above: i. Closing price of these Equity Shares as on December 26 2023 on BSE website ii.
All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on
standalone basis) and is sourced from the annual results/reports of the company for the year ended March 31, 2023. iii. *P/E Ratio has
been computed based on the closing market price of equity shares on BSE on December 26 , 2023 divided by the Diluted EPS provided
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For more details refer offer documents on sebi www.sebi.gov.in

The securities quoted are exemplary and are not recommendatory. Such representations are not indicative of future results.
Source of statistical information, charts, graphs etc – RHP, DRHP, addendum and Moneycontrol.

Investment in securities market are subject to market risks, read all the related documents carefully before investing.
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