IPO Centre     15-Jul-20
IPO News
Rossari Biotech IPO subscribed over 79 times
Gets bids for 64.87 crore shares

The initial public offer (IPO) of Rossari Biotech received bids for 64.87 crore shares today, 15 July 2020, as against 81.73 lakh shares on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. The issue was subscribed 79.37 times.

The issue opened for bidding on Monday, 13 July 2020 and will close today, 15 July 2020. The price band for the IPO was set at Rs 423-425 per share.

The IPO comprised of a fresh issue of equity shares aggregating upto Rs 50 crore and an offer for sale of upto 1.05 crore equity shares by the selling shareholders.

The company on 10 July 2020 raised Rs 148.87 crore from anchor investors, ahead of its initial share sale. The company allotted 35.02 lakh shares at a price of Rs 425 per share to a total of 15 anchor investors, including 12 mutual funds, through 48 schemes.

The anchor investors included Abu Dhabi Investment Authority, HDFC Mutual Fund, Axis Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund, HDFC Life Insurance Company and Goldman Sachs India.

The net proceeds from the issue will be utilised in repaying debt, funding working capital requirements and general corporate purposes.

On a consolidated basis, Rossari Biotech generated total income of Rs 603.81 crore and a net profit of Rs 65.25 crore in fiscal 2020.

Rossari Biotech is a specialty chemicals manufacturing company. Its business is organized in three main product categories: home, personal care and performance chemicals; textile specialty chemicals; and animal health and nutrition products. It operates in India as well as in 17 foreign countries including Vietnam, Bangladesh and Mauritius.

Previous News
  Rossari Biotech consolidated net profit rises 12.63% in the December 2022 quarter
 ( Results - Announcements 04-Feb-23   15:23 )
  Rossari Biotech announces board meeting date
 ( Corporate News - 14-Oct-24   10:25 )
  Board of Rossari Biotech approved acquisition of 50.10% stake in Romakk Chemicals
 ( Corporate News - 31-Jul-21   12:08 )
  Rossari Biotech schedules board meeting
 ( Corporate News - 22-Jan-22   12:22 )
  Rossari Biotech to hold board meeting
 ( Corporate News - 22-Apr-24   16:45 )
  Rossari Biotech consolidated net profit rises 1.88% in the June 2023 quarter
 ( Results - Announcements 29-Jul-23   15:26 )
  Rossari Biotech to consider fund raising
 ( Corporate News - 19-Mar-21   10:31 )
  Rossari Biotech slips after Q2 PAT declines 8% YoY; EBITDA margin remains stable
 ( Hot Pursuit - 07-Nov-22   17:26 )
  Board of Rossari Biotech to consider fund raising options
 ( Corporate News - 19-Mar-21   09:27 )
  Rossari Biotech to discuss results
 ( Corporate News - 24-Apr-23   10:13 )
  Rossari Biotech consolidated net profit rises 7.22% in the September 2024 quarter
 ( Results - Announcements 19-Oct-24   17:34 )
Other Stories
  Afcons Infrastructure IPO ends with 2.63x subscription
  30-Oct-24   16:46
  Afcons Infrastructure IPO subscribed 2.63 times
  29-Oct-24   17:38
  Afcons Infrastructure IPO subscribed 36%
  28-Oct-24   17:05
  Godavari Biorefineries IPO ends with 1.83x subscription
  28-Oct-24   16:17
  Godavari Biorefineries IPO subscribed 1.83 times
  25-Oct-24   17:30
  Afcons Infrastructure IPO subscribed 10%
  25-Oct-24   17:14
  Godavari Biorefineries IPO subscribed 54%
  24-Oct-24   17:08
  Deepak Builders & Engineers India IPO ends with 41.54x subscription
  24-Oct-24   16:59
  Waaree Energies IPO ends with 76.34x subscription
  24-Oct-24   16:57
  Godavari Biorefineries IPO subscribed 27%
  23-Oct-24   17:19
Back Top