Nova Agritech shares jump nearly 37% in debut trade

New Delhi: Shares of Nova Agritech climbed nearly 37 per cent in its debut trade on Wednesday against the issue price of Rs 41.

The stock listed at Rs 56, up 36.58 per cent from the issue price on the BSE. It later jumped 43.39 per cent to Rs 58.79.

At the NSE, the stock made its debut at Rs 55, up 34.14 per cent.

The Initial Public Offer (IPO) of Nova Agritech got subscribed a whopping 109.36 times on the last day of subscription on Thursday, with heavy participation coming in from institutional investors.

The Rs 143.81 crore-IPO had a price range of Rs 39-41 a share.

The IPO of the manufacturer of agricultural products had a fresh issue of up to Rs 112 crore and an offer-for-sale of up to 77,58,620 equity shares.

Incorporated in 2007, the firm manufactures, distributes and markets soil health management products, crop nutrition, biostimulants, bio-pesticide, integrated pest management products and crop protection products.