Rossari Biotech IPO price band fixed between Rs 423-425 per share; set to open on July 13

Rossari Biotech IPO: This Mumbai-based chemical firm is all set to list on the stock markets. The listing of the Initial Public Offer (IPO) is slated on the Indian Exchange next week. As per the BSE India website details, the issue will get opened on 13th July 2020 and remain open for apply till 15th July 2020. The price band of the IPO is Rs 423 to Rs 425 per shares while the face value of the superspeciality chemical firm IPO is Rs 2.

As per the Rossari Biotech IPO note available at the BSE website, each share of the firm will have a face value of Rs 2 and the IPO will be available in lots consisting of 35 shares in each lot.

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.

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The IPO will consist of a fresh issue of equity shares aggregating up to Rs 50 crore and an offer for sale component of up to 10,500,000 equity shares. The issue size is pegged around  Rs 494-Rs 496 crore.

Book Running Lead Managers of the Rossari Biotech IPO are Axis Capital Limited and ICICI Securities Limited while the sponsored bank of the IPO will be Axis Bank.

The likely date for listing of the Rossari Biotech IPO is 23rd July 2020.

This will be the first IPO after the COVID-19 lockdown. The last IPO that got listed at the Indian exchange was SBI Cards & Payment Services on 16th March 2020.