The Nova Agri Tech IPO has a Grey Market Premium (GMP) of ₹20, with plans to open on January 23, 2024, targeting a fundraising goal of ₹143.81 crores.
Nova Agri Tech IPO GMP
The Grey Market Premium (GMP) for the Nova Agri Tech IPO is currently at ₹20. The IPO is scheduled to open on January 23, 2024, and the company aims to raise ₹143.81 crores.
Nova Agritech is an agri-input manufacturer offering soil health management, crop nutrition, and crop protection products with a focus on a tech-based farmer-driven solution approach.
This translates to a potential listing price of around ₹61 per share, a premium of nearly 48.78% over the issue price band of ₹39 to ₹41 per share.
What is the expected listing date for Nova Agri Tech IPO?
The Nova Agri Tech IPO is scheduled to open for subscription on January 23, 2024, and close on January 25, 2024. The allotment date for the IPO is set for January 29, 2024.
Due to a market holiday on January 22, 2024, the IPO is rescheduled for January 23 to 25, 2024, and the listing is expected to be on January 31, 2024.
However, the latest information available suggests that the tentative listing date for the shares of Nova Agri Tech is January 30, 2024. It’s important to note that the GMP for the IPO is updated daily and can be risky to base investment decisions solely on it.
Expected market capitalization of Nova Agri Tech after listing
The expected market capitalization of Nova Agri Tech after listing is not explicitly mentioned. However, we can estimate the market capitalization based on the IPO size and the expected listing price.
The IPO size for Nova Agri Tech is ₹143.81 crores, which includes a fresh issue of ₹112 crores and an offer for sale (OFS) of ₹31.81 crores.
Estimating the Market Cap:
While predicting the exact market cap is impossible, you can make an informed estimate using the available information:
- IPO Issue Size: Nova Agri Tech aims to raise to ₹143.81 crore.
- Issue Price Band: The price band is set at ₹39-₹41 per share.
- Pre-Issue Shareholding: Promoters currently hold 84.27% of the company.
Based on this:
- The market cap could range from around ₹379.33 crore (using the pre-issue shareholding and lower price band) to approximately ₹592.37 crore (with the full issue size and upper price band).
Factors Shaping Nova Agri Tech’s Market Capitalization Upon Listing
The expected market capitalization of Nova Agri Tech upon listing depends on several factors:
Final Issue Size:
- Many shares subscribed directly affect capital raised.
- More subscriptions = higher market cap (assuming constant listing price).
Listing Price:
- Determined by supply/demand dynamics on listing day.
- Higher demand = potentially higher listing price = higher market cap.
Outstanding Shares:
- Total shares after listing: issued + pre-issue holdings.
- Larger pre-issue shareholding = higher market cap even with smaller issue size.
Market Sentiment and Investor Interest:
- Positive sentiment and strong investor interest can elevate the listing price.
- Conversely, negative sentiment can suppress the price, impacting market cap.
Grey Market Premium (GMP):
- Unofficial indicator of pre-listing investor sentiment.
- High GMP suggests potential for higher listing price and market cap.
Nova Agri Tech IPO Allotment Date & Details
The expected allotment date for the Nova Agri Tech IPO has been confirmed as Monday, January 29, 2024. This is the date when the finalization of the basis of allotment for the IPO will be done.
Here’s a timeline of key dates for the Nova Agri Tech IPO:
- Issue Dates: The IPO subscription window opens on January 23, 2024, and closes on January 25, 2024.
- Basis of Allotment Finalisation: The finalisation of the basis of allotment, is expected to occur on January 29, 2024.
- Allotment Credit: If you are allotted shares, they will be credited to your Demat account on January 30, 2024.
- Listing Date: The official listing date for Nova Agri Tech on the BSE and NSE is expected to be January 31, 2024.
What to Expect:
- Allotment Status: On January 29, 2024, you can check your allotment status on the websites of the Registrar to the Issue (RTA) or your broker. Popular RTAs include Link Intime and Karvy.
- Demat Account Credit: If allotted shares, they will be credited to your Demat account by January 30, 2024.
- You can then view and manage them through your Demat account holder’s online platform.
- Listing & Trading: Once listed on January 31, 2024, you can start trading Nova Agri Tech shares on the BSE and NSE.
Once the allotment is finalized on January 29th, you can check your allotment status online on the websites of the registrar to the issue or your stockbroker.
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