Rossari Biotech share price: Post IPO, company listing delivers massive 65 pct return to subscribers; lists at 60 pct above issue price

Rossari Biotech Listing: Ending near four months of inactivity in the IPO space, the Rossari Biotech IPO got listed today at Rs 670 at the BSE, which is around 60 per cent higher than its issue price of Rs 425 per share. After the Rossari Biotech listing, the speciality chemical firm's share price made its intraday high of Rs 699 as well, giving the Rossari Biotech IPO subscribers a whopping near 65 per cent returns.

This robust Rossari Biotech Listing was expected as the Rs 496 crore IPO was subscribed 79.37 times. The price range for the Rossari Biotech IPO was fixed at Rs 423 to 425. As per the data available at NSE, the IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares. The category reserved for qualified institutional buyers (QIBs) was subscribed 85.26 times, non-institutional investors 239.83 times, while the retail portion was subscribed 7.23 times.

Rossari Biotech initial public offer ended the four months of inactivity in the IPO market. The offer was managed by Axis Capital and ICICI Securities. SBI Cards & Payment Services was the last company to float an IPO in March 2020. Neogen Chemicals was the last specialty chemicals IPO to come to market in April 2019.

See Zee Business Live TV streaming below:

Rossari Biotech speciality chemical firms has raised Rs 149 crore from the anchor investors. In the last three years Rossari have reported 32 per cent and 66 per cent revenue and PAT CAGR due to the strong promoter and management team. At the upper end of the price band, Rossari demands PE multiple of 32.1x F.Y.20 fully diluted EPS. None of the listed chemical companies has the same business as Rossari.