Rossari Biotech IPO allotment status: How to check1 min read . Updated: 21 Jul 2020, 03:51 PM IST
- The IPO of specialty chemicals manufacturing firm Rossari Biotech was subscribed about 80 times
- The price range IPO was fixed at ₹423-425 per share
The IPO allotment status of Rossari Biotech has been announced today. Investors can check it on the website of Link Intime India, the registrar of the issue. The initial public offer (IPO) of specialty chemicals manufacturing firm Rossari Biotech, which closed on Wednesday, was subscribed a whopping 79.37 times. The ₹496-crore IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares, according to data available with the NSE.
The category reserved for qualified institutional buyers (QIBs) was subscribed 85.26 times, non-institutional investors 239.83 times, while retail portion was subscribed 7.23 times. The price range for the offer was fixed at ₹423-425 per share. The company had raised ₹149 crore from anchor investors.
Rossari Biotech's initial share-sale ended four months of inactivity in the IPO market. Net proceeds from the issue will be utilised for funding working capital requirements, repaying certain debt availed by the company and for general corporate purposes. The equity shares will be listed on both NSE and BSE.
SBI Cards & Payment Services was the last company to float an IPO in March. Mindspace Business Parks REIT said that it has fixed a price band of Rs274-275 per unit for its upcoming IPO, which opens on 27 July.
Rossari Biotech is a specialty chemicals manufacturing firm with focus on home and personal care, performance chemicals, textile specialty chemicals and animal health and nutrition products.
The offer was managed by Axis Capital and ICICI Securities.
Neogen Chemicals was the last specialty chemicals IPO to come to market in April 2019. (With Agency Inputs)