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 expansion of its existing formulation plant, amounting to Rs 10.49 crore; funding working capital requirement amounting to Rs 26.65 crore; and investment in its subsidiary, NASPL, for funding working capital requirement amounting to Rs 43.36 crore.

Incorporated in 2007, Nova Agritech is an agri-input manufacturer offering soil health management, crop nutrition and crop protection products focused on tech-based farmer-driven solutions. The company offers ecologically sustainable and nutritionally balanced products based on its research and development.

The company manufactures, distributes and markets a wide range of product categories consisting of soil health management products like organic fertilizers, bio fertilizers and soil conditioners, crop nutrition products like 100% water soluble NPK (nitrogen, phosphorous and potassium) fertilizers, micronutrient fertilizers, beneficial element fertilizes, straight nitrogen fertilizers, straight potash fertilizers and bio stimulant products, bio pesticide products, integrated pest management (IPM) products, new technologies and crop protection products. Currently, crop protection products are manufactured by subsidiary Nova Agri Sciences.

The firm reported a net profit of Rs 10.38 crore and total income of Rs 103.22 crore for the six months ended on 30 June 2023.