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Rossari Biotech's IPO Set To Open On Monday. Here's All You Need To Know
12 Jul 2020, 01:17 PM IST 
Rossari Biotech IPO: Shares will be available for subscription in lots of 35
- Mumbai-based Rossari Biotech is a specialty chemicals manufacturer which has diversified into animal health and nutrition, home, personal care and performance chemicals markets.
- Rossari Biotech - which filed its draft papers with market regulator Sebi in December last year, received a go-ahead for the IPO in February. Rossari Biotech shares will be listed on the NSE and BSE.
- Rossari Biotech's public offer comes after four months of inactivity in the country's IPO market. SBI Cards & Payment Services was the last company to have floated an IPO in March.
- Rossari's up to Rs 496-crore public offer includes a fresh issue of Rs 50-crore shares and an offer of sale of 1.05 crore shares.
- An issue price of Rs 423-Rs 425 has been set for the IPO. At the upper end of the price band, the offer for sale is estimated at Rs 446.25 crore.
- Rossari Biotech shares will be available in lots of 35 shares in the IPO. In other words, investors will be able to apply for Rossari shares for a minimum of Rs 14,805-14,875 in multiples of 35 shares.
- While half of the Rossari Biotech IPO 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 investors are permitted a maximum subscription amount of Rs 2,00,000 under the Rossari Biotech IPO.
- Net proceeds from the issue will be utilised for funding working capital requirements, repayment/prepayment of certain loans and for general corporate purposes.
- Book running lead managers for the Rossari Biotech IPO are Axis Capital and ICICI Securities.
- 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.