Nova Agritech commissions new formulation plant using IPO funds

Nova Agritech Limited has announced the commissioning of its formulation plant and its subsidiary, Nova Agri Sciences Private Limited's plant, established using funds from its Initial Public Offering (IPO). The plants, located in Singannaguda Village, Telangana, are ready for operation effective July 7, 2025. According to the company, ₹1420.11 lakh was invested in the subsidiary, and ₹1048.95 lakh was allocated towards expanding the company's existing formulation plant, aligning with the objects outlined in the IPO prospectus dated January 28, 2024. The company confirmed the funds were used as stated and there were no material deviations. Nova Agritech expects the increased manufacturing capacity to bolster its market presence. The new plants will expand capacity as NATL capacity will be 8,664 MTPA and NASPL will be 10,032 MTPA.