Nova Agritech Limited — Others, 15-05-2025: Monitoring Agency Report

Nova Agritech Limited has announced that Rs. 76 Cr of its Rs. 100.95 Cr IPO proceeds have been utilized mainly for investment in a new formulation plant at its subsidiary, expansion of an existing plant, and working capital. While some capex spending experienced delays, funds were deployed as planned, with unutilized amounts kept in fixed deposits earning 5.5-7.6% returns. Insecticide registration applications are still pending, but there are no material impacts or deviations reported, indicating steady progress on growth initiatives.