Comments
Agri-input manufacturer Nova Agritech Ltd on Friday raised ₹43.14 crore from anchor investors, as part of IPO fundraising exercise.
The IPO is open to public on Monday and closes on Wednesday, The price band for the offer has been fixed as ₹39-41.
The company informed the bourses that it allocated about 1.05 crore shares at ₹41 a share on to anchor investors, who included foreign and domestic institutions
Among those who participated in the anchor book were Quantum-State Investment Fund, Neomile Growth Fund, AG Dynamic Funds limited and Saint Capital Fund.
The ₹143.81-crore IPO from the soil health management, crop nutrition and crop protection products company consisted of a fresh issue of equity shares aggregating to ₹112 crore and an offer-for-sale (OFS) of up to 77,58,620 shares by the selling shareholder Nutalapati Venkatasubbarao.
Investors can bid for a minimum of 365 shares.
While up to 50 per cent of of the offer is reserved for qualified institutional buyers, not less than 15 per cent would be available for non-institutional investors and 35 per cent for retail investors.
The company said it would use the proceeds on expansion and for the working capital requirements.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.