Nova Agritech IPO sees strong demand, subscribed over 5x on Day 1; GMP at 70%
Nova Agritech IPO was fully subscribed on the first day of bidding, with an overall subscription of 5.4 times so far. Retail category subscription stood at 8.1 times, followed by NII part at 6.1 times. The IPO includes a fresh equity issue of Rs 112 crore and an offer-for-sale of 77.58 lakh shares. Nova Agritech GMP is quoting Rs 20 in the unlisted market, with a premium of nearly 70%. The company has fixed a price band of Rs 39-41 for the IPO.
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