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

livemint.com:

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 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.