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Nova Agritech IPO

Nova Agritech

IPO Doc

Start Date22-01-2024

Application Timing10am-5pm

Price Range₹39 - ₹41

Min Qty365

Min. Investment₹14235

Listing DateNA

Close Date24-01-2024

About Nova Agritech

Why To Invest in Nova Agritech

AgriTech company offering eco-sustainable crop management solutions with tech and R&D focussed business model. The IPO net proceeds will be utilised for:

Investment in the subsidiary, Nova Agri Sciences Private Limited for setting-up a new formulation plant
Funding Capital Expenditure in the Company, towards expansion of the existing formulation plant
Funding of working capital requirements of the company
Investment in the subsidiary, Nova Agri Sciences Private Limited, for funding working capital requirements

Financial Table

Year	FY 2021	FY 2022	FY 2023
Operating Revenue (Rs. Cr)	160.5	185.5	210.5
Profit After Tax (Rs. Cr)	6.3	13.69	20.49

Strengths And Risks

One Stop Solution: Nova AgriTech has a diversified branded product portfolio and offer varied range of products as a complete solution for agricultural requirements such as comprehensive range of soil health management, crop nutrition and crop protection. Company has the license to manufacture 720 products in various categories.

Strong Farmer Outreach: Nova AgriTech runs a farmer outreach program called Nova Kisan Seva Kendra program (NKSK), through which they educate farmers on various crop management practices. Other than 24 coordinators, the company is associated with 96 Kisan Mitras and 142 Kisan Sevaks at a grass root level.

Technology Driven Product Development : Company uses technology enabled solutions, e.g, Bhuparikshak is first-of-its-kind novel device capable of detecting soil health in just 90 seconds through an embedded mobile application. Company is launching Nova Agribot Drones that can help farmers to optimize the inputs (seed, fertilizers, water), to react more quickly to threats (weeds, pests, fungi), to save time crop scouting (validate treatment/actions taken) and estimate yield from fields.

High Debt: Company’s total outstanding debt is Rs. 44 crores resulting in negative cash flows from financing activities. Nova aims to repay part of the debt through IPO proceeds. There is high working capital requirement in the business for manufacturing plant, raw materials and expansion.

Climate Impact: The business is sensitive to weather conditions such as rains, drought, floods, cyclones and natural disasters, as well as events such as pest and disease infestations. Growing concern about carbon dioxide and emissions can further impact agri business negatively.

Change in Govt. Policies: Any changes in Government policies relating to the agriculture sector, such as withdrawal of or changes in incentives and subsidies to farmers, adverse changes in commodity prices, or minimum support prices could affect the ability of farmers to spend on crop enrichment. protection products, which in turn could adversely affect our business and results of operations.

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Astha Credit & Securities Pvt Ltd
NSE, BSE & MCX Sebi Reg No:
INZ000187932

For any grievance contact:
grievance@rupeezy.in
0755-4268599

Membership ID:
NSE - 12227 BSE-6844 MCX - 40000
NSDL-IN303420 CDSL-94500

For cyber attack incident reporting:
gyanesh@rupeezy.in
9669695615

CIN:
U65929MP2003PTC016241

SEBI RA Registration:
INH000013332

SEBI Depository Participant Reg No:
IN-DP-611-2021

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Client Bank account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062
2	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	57500000351820	HDFC0000062

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