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Rossari Biotech IPO is a book built issue of Rs 496.49 crores. The issue comprises of fresh issue of Rs 50.00 crore and offer for sale of 1.05 crore shares.
Rossari Biotech IPO bidding started from July 13, 2020 and ended on July 15, 2020. The allotment for Rossari Biotech IPO was finalized on Monday, July 20, 2020. The shares got listed on BSE, NSE on July 23, 2020.
Rossari Biotech IPO price band is set at ₹423 to ₹425 per share. The minimum lot size for an application is 35 Shares. The minimum amount of investment required by retail investors is ₹14,875.
Axis Bank Limited and ICICI Securities Limited are the book running lead managers of the Rossari Biotech IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Rossari Biotech IPO RHP for detailed information.
| IPO Date | July 13, 2020 to July 15, 2020 |
| Listing Date | July 23, 2020 |
| Face Value | ₹2 per share |
| Price Band | ₹423 to ₹425 per share |
| Lot Size | 35 Shares |
| Total Issue Size | 11,682,033 shares (aggregating up to ₹496.49 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹50.00 Cr) |
| Offer for Sale | 10,500,000 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 50,752,920 |
| Share holding post issue | 51,929,390 |
Rossari Biotech IPO offers 8,173,530 shares. 2,335,294 (28.57%) to QIB, 1,751,471 (21.43%) to NII, 4,086,765 (50.00%) to RII. 116,764 RIIs will receive minimum 35 shares and (sNII) and (bNII) will receive minimum 490 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,335,294 (28.57%) | NA |
| NII (HNI) Shares Offered | 1,751,471 (21.43%) | |
| Retail Shares Offered | 4,086,765 (50.00%) | 116,764 |
| Total Shares Offered | 8,173,530 (100%) |
Rossari Biotech IPO opens on July 13, 2020, and closes on July 15, 2020.
| IPO Open Date | Monday, July 13, 2020 |
| IPO Close Date | Wednesday, July 15, 2020 |
| Basis of Allotment | Monday, July 20, 2020 |
| Initiation of Refunds | Tuesday, July 21, 2020 |
| Credit of Shares to Demat | Wednesday, July 22, 2020 |
| Listing Date | Thursday, July 23, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 15, 2020 |
Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,875 |
| Retail (Max) | 13 | 455 | ₹193,375 |
| Lot Size Calculator | |||
Mr. Edward Menezes and Mr. Sunil Chari are the promoters of the company.
| Share Holding Pre Issue | 95.06% |
| Share Holding Post Issue | 73% |
Incorporated in 2009, Rossari Biotech Ltd is a manufacturer of textiles specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries by offering a diversified product portfolio. Rossari Biotech operates in 18 countries including India, Bangladesh, Vietnam, and Mauritius.
As per the F&S Report published on 30th Sept 2019, it is the largest textile specialty chemical manufacturer in India. The business of the company can be classified into three main categories which are textile specialty chemicals; animal health & nutrition products; and home, personal care & performance chemicals. The company has 1,948 different products range under these three categories.
Most of the products of the company are manufactured in-house. It has a manufacturing unit located at Silvassa, Dadra & Nagar Haveli with an installed capacity of 100,000 MTPA. The company is also setting up a manufacturing unit at Dahej in Gujarat with an installed capacity of 132,500 MTPA. Rossari Biotech also has two R&D facilities in Silvassa and Mumbai locations to focus on new product development, formulations, and cost competitiveness. It has more than 194 distributors across India and 27 distributors spread in other 17 countries.
Competitive Strengths
1. Diversified product portfolio
2. Well-known textile specialty chemical manufacturer in India
3. In-house manufacturing unit
4. Strong R&D facility
5. Pan-India distribution network
| Particulars | For the year/period ended (Rs in Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 4,715.15 | 2489.45 | 1649.50 | 1308.94 | |
| Total Revenue | 6,038.18 | 5171.24 | 3004.29 | 2605.97 | |
| Profit After Tax | 652.53 | 456.83 | 254.03 | 142.85 | |
The market capitalization of Rossari Biotech IPO is Rs 2207 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 33.81 |
The net proceeds of the Fresh Issue, i.e. Gross proceeds of the Fresh Issue less the Offer Expenses apportioned to the Company ("Net Proceeds") are proposed to be utilised in the following manner:
1. Repayment/prepayment of certain indebtedness availed by the Company (including accrued interest);
2. Funding working capital requirements; and
3. General corporate purposes
[Dilip Davda] On the current parameters, the issue appears fully priced. However, considering bright prospects going forward with more than double installed capacity and rising patronage by top clients with long term relations, investors may consider investment for long term rewards. Read detail review...
The Rossari Biotech IPO is subscribed 79.37 times on July 15, 2020 5:00:02 PM. The public issue subscribed 7.23 times in the retail category, 85.26 times in the QIB category, and 239.83 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 85.26 |
| NII | 239.83 |
| Retail | 7.23 |
| Total | 79.37 |
Rossari Biotech Limited, the largest manufacturer of textile specialty chemicals in India is launching its IPO on 13th July 2020. The issue close date is 15th July 2020. The NRIs are allowed to subscribe to this IPO subject to certain rules and restrictions.
Rules and restrictions for NRI in Rossari Biotech IPO:
| Listing Date | July 23, 2020 |
| BSE Script Code | 543213 |
| NSE Symbol | ROSSARI |
| ISIN | INE02A801020 |
| Final Issue Price | ₹425 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹425.00 |
| ₹670.00 |
| ₹663.55 |
| ₹804.00 |
| ₹742.35 |
| NSE |
|---|
| ₹425.00 |
| ₹669.25 |
| ₹664.00 |
| ₹803.10 |
| ₹741.65 |
Rossari Biotech Ltd
201 A - B, 2nd Floor, Akruti Corporate Park,
L.B.S. Marg, next to GE Gardens,
Kanjurmarg (W), Mumbai 400 079, India
Phone: +91-22-6123 3800
Email: info@rossarimail.com
Website: https://www.rossari.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: rossaribio.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Rossari Biotech IPO is a main-board IPO of 11,682,033 equity shares of the face value of ₹2 aggregating up to ₹496.49 Crores. The issue is priced at ₹423 to ₹425 per share. The minimum order quantity is 35 Shares.
The IPO opens on July 13, 2020, and closes on July 15, 2020.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Rossari Biotech IPO using UPI as a payment gateway. Zerodha customers can apply in Rossari Biotech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rossari Biotech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rossari Biotech IPO opens on July 13, 2020 and closes on July 15, 2020.
Rossari Biotech IPO lot size is 35 Shares, and the minimum amount required is ₹14,875.
You can apply in Rossari Biotech IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Rossari Biotech IPO will be done on Monday, July 20, 2020, and the allotted shares will be credited to your demat account by Wednesday, July 22, 2020. Check the Rossari Biotech IPO allotment status.
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