Rossari Biotech IPO price band: Public issue open for subscription from today; See details here

Rossari Biotech IPO: Mubai-based Rossari Biotech's public issue of Rs 500 crore has opened for subscription today and will remain open till July 15, 2020. The IPO market timings are between 10 am and 5 pm. The textile and specialty chemical manufacturing company has fixed a price band of Rs 423-425 per equity share. Investors can bid in lot sizes of 35 shares.

Rossari Biotech's IPO comprises fresh issuance of shares worth Rs 50 crore and the sale of 1,05,00,000 equity shares by the company's promoters through offer-for-sale route. Post the IPO, the promoter shareholding will fall to 73 per cent from 95 per cent earlier. The equity shares will be listed on the NSE and BSE. According to brokerages, the likely date of listing could be July 23, 2020.

See Details Here:

• Post Issue Modification  - 16 Jul 2020 from 10.00 am to 11.00 am
• Symbol - ROSSARI 
• Issue Size – No. of Shares - 81,73,530 - Retail Individual Investors (individual Investors biding for amount up to Rs 2 Lacs) note that use of UPI Id in Application Form is mandatory while applying for equity IPOs through Designated Intermediaries (Syndicate members, Registered Stock Brokers, Registrar and Transfer agent and Depository Participants). All Other Category of Investors shall mandatorily use only Application Supported by Blocked Amount (ASBA) facility for making payments
• Face Value – Rs 2.00
• Tick Size - 1.00
• Market Lot – 35
• Maximum Bid Quantity for Qualified Institutional Investors - 8173515
• Maximum Bid Quantity for Non-Institutional Investors - 5841010

The book running lead manager for the IPO as mentioned in the exchange filing are - Axis Capital Limited and ICICI Securities Limited.

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The company provides customised solutions to industrial and production requirements to its customers through our diversified product portfolio. From a textile business, the company has diversified into the animal health and nutrition, home, personal care and performance chemicals markets.