April 25, 2024
Stock Market

Indian stock market: Nova Agritech shares give 70% return to allottees within one month of IPO listing

Indian stock market today: Nova Agritech IPO listed on BSE and NSE on 31st January 2024 at a whopping premium of nearly 34 percent against Nova Agritech IPO price band of 39 to 41 per equity share. However, Nova Agritech shares didn’t stop here only. Nova Agritech share price further surged after making a dream debut on Dalal Street and went on to touch a record high of 77.20 apiece on NSE, logging around 88 percent rise against the upper price band of 41 per equity share. However, profit booking was triggered and the stock retraced from its record peak.

However, Nova Agritech share price today witnessed strong buying interest during morning deals. Nova Agritech share price today opened upside at 60.30 apiece on NSE and went on touch an intraday high of 68.95 per share level, logging an intraday gain of over 14 percent. While climbing to this intraday peak, Nova Agritech shares logged around 70 percent rise against its upper price band of 41 per share. If an allottee had remained invested in this stock despite strong listing, the absolute value of one’s investment in the scrip would have surged around 70 percent within a month of Nova Agritech share listing.

Also Read: Sigachi Industries share price hits 52-week high after 85% rally in YTD

Nova Agritech IPO details

The initial public offering of Nova Agritech Limited was launched in January 2024. Nova Agritech IPO opened for bidding on 23rd January 2024 and remained open till 25th January 2024. The public issue was offered at a price band of 39 to 41 per equity share. In these three days of bidding, the book build issue was subscribed over 110 times. Nova Agritech shares were listed on BSE and NSE on 31st January 2024.

Infographic: Courtesy mintgenie

Nova Agritech shares listed on BSE at 56 apiece whereas on NSE, it listed at 55 per share, delivering around 34 percent listing gain to the lucky allottees. After a strong debut on Dalal Street, the newly listed scrip remained in a bull trend till 7th February 2024 and hit a new high of 77.20 on NSE.

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