Nova Agritech IPO: Issue subscribed 33 times, HNI portion booked 71x on day 2

Nova Agritech’s Rs 143.8 crore IPO was subscribed 33.82 times on January 24, the second day of bidding. Retail investors bid 36.19 times, high net-worth individuals (HNI) picked 71.19 times and qualified institutional buyers (QIB) bought 1.12 times of the allotted quota.

The issue will close on January 25 and the price band has been fixed at Rs 39-41 per share. The IPO consists of a fresh issue of 2.73 crore shares worth Rs 112 crore and an OFS of 77.58 lakh shares worth Rs 31.81 crore. The promoters of the company are Suraksha Agri Retails (India), Malathi S and Kiran Kumar Atukuri.

Also Read: Nova Agritech IPO: Should you subscribe to Rs 143.8-crore issue?

Nova Agritech raised Rs 43.14 crore ahead of the IPO from four institutional investors on January 19. AG Dynamic Funds is the biggest investor amongst them, buying nearly Rs 13 crore equity shares in the company, while Neomile Growth Fund - Series I, Saint Capital Fund, and Quantum-State Investment Fund picked more than Rs 10 crore worth of shares each.