Nova Agritech shares settled the listing day with nearly 41 percent rally on January 31 as the uptrend in equity markets and healthy subscription seem to have boosted the stock.
The stock opened at Rs 55 on the NSE and stuck at Rs 57.75 throughout the session, which was 5 percent upper circuit over the opening price, while the gains stood at 40.85 percent compared to issue price of Rs 41.
The exchanges have set the 5 percent upper and lower circuit limit for the stock, over the opening price.
Nova Agritech traded with volume of 83.55 lakh equity shares on the NSE, while on the BSE, it opened at Rs 56 and settled with 43.39 percent gains at Rs 58.79, with volume of 15.58 lakh shares.
The soil health and crop protection products company closed its Rs 144-crore IPO last week with a massive subscription of 109.37 times on January 25.
Also read: Rashi Peripherals IPO to open on February 7, plans to raise Rs 600 crore
The offer, which was opened on January 23, was a mix of a fresh issuance of shares worth Rs 112 crore and an offer-for-sale (OFS) of Rs 31.81 crore worth of shares by Nutalapati Venkatasubbarao, who exited the company by selling entire personal shareholding in the OFS.
The price band for the issue was Rs 39-41 per share.
The Telangana-based agri-input manufacturer offers soil health management, crop nutrition and crop protection products focused on a tech-based farmer-driven solution approach.
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