Nova Agritech shares jump over 43% in debut trade

New Delhi: Shares of Nova Agritech climbed over 43 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 jumped 43.39 per cent to settle at Rs Rs 58.79.

At the NSE, the stock made its debut at Rs 55, up 34.14 per cent. Shares of the company ended at Rs 57.75, a gain of 40.85 per cent.

A total of 15.58 lakh shares of the company were traded at the BSE and over 83.55 lakh shares at the NSE during the day.

The company's market valuation stood at Rs 543.92 crore.

The Initial Public Offering (IPO) of Nova Agritech was subscribed 109.36 times on the last day of subscription on Thursday, with heavy participation 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-pesticides, integrated pest management products, and crop protection products.