Over Rs 494-Crore Rossari Biotech IPO Opens Today

Mumbai-based Rossari Biotech is a specialty chemicals manufacturer which has diversified into animal health and nutrition, home, personal care and performance chemicals markets.

Over Rs 494-Crore Rossari Biotech IPO Opens Today

Rossari Biotech IPO: Shares will be available for subscription in lots of 35

Rossari Biotech's initial public offer (IPO) worth Rs 494-496 crore will open for subscription at 10 am today. Eligible investors will be able to apply for Rossari Biotech shares under the IPO between 10 am to 5 pm on three days ending July 15. Rossari Biotech, a Mumbai-based specialty chemicals maker, has diversified into animal health and nutrition, home, personal care and performance chemicals markets. Rossari Biotech provides customised solutions to cater to the industrial and production requirements of its customers through a diversified product portfolio, according to its website. 

Rossari Biotech shares will be listed on stock exchanges NSE and BSE. On Friday, the company said it had raised Rs 149 crore from anchor investors. The Rossari Biotech IPO comes after four months of inactivity in the country's IPO market. The last company to have launched a public offer was SBI Cards & Payment Services.

Here's all you need to know about the Rossari Biotech IPO:

Important Dates

The subscription window for the Rossari Biotech initial public offer will remain open for three days till July 15.

Issue Size

Rossari Biotech's up to Rs 496-crore public offer includes a fresh issue of Rs 50-crore shares and an offer of sale (OFS) of 1.05 crore shares.

Issue Price

An issue price of Rs 423-Rs 425 has been set for the Rossari Biotech IPO. At the upper end of the price band, the offer for sale is estimated at Rs 446.25 crore.

Lot Size 

Rossari Biotech shares will be available in lots of 35 shares in the IPO. Investors will be able to apply for Rossari Biotech shares in multiples of 35 shares. Given the issue price range, one lot of Rossari shares will cost Rs 14,805-14,875

Reservation

While 50 per cent of Rossari Biotech's public offer is reserved for qualified institutional buyers (QIBs), 15 per cent is reserved for non-institutional investors, and the remaining 35 per cent for retail investors. 

Retail Investment Limit

Retail investors are allowed a maximum subscription amount of Rs 2,00,000. 

Fund Utilisation

Net proceeds from the public offer will be utilised for funding working capital requirements, repayment/prepayment of certain loans and for general corporate purposes.

Axis Capital and ICICI Securities are the book running lead managers for Rossari Biotech's IPO.