Rossari Biotech's initial public offer (IPO) was subscribed more than 38 per cent on Monday, the first day of issue. By 4:15 pm, the Rossari Biotech IPO had received 31,34,110 bids,marking a 38.34 per cent subscription compared to its total issue size of 81,73,530 shares, data from the National Stock Exchange (NSE) showed. Rossari Biotech is a manufacturer of specialty chemicals. The Rossari Biotech IPO is the first public offer to hit the country's capital markets since that of SBI Cards & Payment Services in March. (Also Read: All You Need To Know Before Applying For Rossari Biotech IPO)
Here are five important things to know about the Rossari Biotech IPO:
Subscription Window Dates
Rossari Biotech's IPO opened for subscription on July 13 and will close on Wednesday, July 15. Eligible investors can apply for shares under the Rossari public offer between 10 am and 5:00 pm on each of the three days.
A price band of Rs 423-Rs 425 has been set for the Rossari Biotech IPO.
Shares can be purchased in multiples of 35. In the given price band, one lot will cost Rs 14,805-14,875.
Rossari Biotech shares will be listed on stock exchanges NSE and BSE.
Headquartered in Mumbai, Rossary Biotech has diversified into animal health and nutrition, home, personal care and performance chemicals markets. The company provides customised solutions to cater to the industrial and production requirements of its customers through a diversified product portfolio, according to its website.