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Rossari Biotech IPO is a book build issue of ₹496.25 crores. The issue is a combination of fresh issue of 0.12 crore shares aggregating to ₹50.00 crores and offer for sale of 1.05 crore shares aggregating to ₹446.25 crores.
Rossari Biotech IPO bidding started from Jul 13, 2020 and ended on Jul 15, 2020. The allotment for Rossari Biotech IPO was finalized on Jul 20, 2020. The shares got listed on BSE, NSE on Jul 23, 2020.
Rossari Biotech IPO price band is set at ₹425.00 per share . The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,805 (35 shares). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,08,250, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,11,500.
Axis Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹423 to ₹425 per share |
| Issue Price Final | ₹425 per share |
| Lot Size | 35 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,16,76,470 shares (aggregating up to ₹496.25 Cr) |
| Fresh Issue | 11,76,470 shares (aggregating up to ₹50.00 Cr) |
| Offer for Sale | 1,05,00,000 shares of ₹2 (aggregating up to ₹446.25 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,07,52,920 shares |
| Share Holding Post Issue | 5,19,29,390 shares |
Rossari Biotech IPO offers total 1,16,76,470 shares. Out of which 58,38,234 (50.00%) allocated to QIB, 23,35,294 (20.00%) allocated to QIB, 17,51,471 (15.00%) allocated to NII, 40,86,765 (35.00%) allocated to RII and 35,02,940 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 58,38,234 (50.00%) | NA |
| − Anchor Investor Shares Offered | 35,02,940 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 23,35,294 (20.00%) | NA |
| NII (HNI) Shares Offered | 17,51,471 (15.00%) | NA |
| Retail Shares Offered | 40,86,765 (35.00%) | 1,16,764 |
| Total Shares Offered | 1,16,76,470 (100.00%) |
Rossari Biotech IPO opens on July 13, 2020, and closes on July 15, 2020.
| IPO Open Date | Mon, Jul 13, 2020 |
| IPO Close Date | Wed, Jul 15, 2020 |
| Tentative Allotment | Mon, Jul 20, 2020 |
| Initiation of Refunds | Tue, Jul 21, 2020 |
| Credit of Shares to Demat | Wed, Jul 22, 2020 |
| Tentative Listing Date | Thu, Jul 23, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jul 15, 2020 |
Investors can bid for a minimum of 35 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,875 |
| Retail (Max) | 13 | 455 | ₹1,93,375 |
| S-HNI (Min) | 14 | 490 | ₹2,08,250 |
| S-HNI (Max) | 67 | 2,345 | ₹9,96,625 |
| B-HNI (Min) | 68 | 2,380 | ₹10,11,500 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹2207.00 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 33.81 |
The Company Rossari Biotech IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment/prepayment of certain indebtedness availed by our Company (including accrued interest) | 65.00 |
| 2 | Funding working capital requirements | 50.00 |
| 3 | General corporate purposes | 28.74 |
[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...
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 |
| BSE Listing Group | B |
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
Mumbai, Maharashtra
Phone: +91-22-6123 3800
Email: info@rossarimail.com
Website: https://www.rossari.com/
MUFG Intime India Pvt.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 1,16,76,470 equity shares of the face value of ₹2 aggregating up to ₹496.25 Crores. The issue is priced at ₹425 per share. The minimum order quantity is 35.
The IPO opens on July 13, 2020, and closes on July 15, 2020.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹14,875.
You can apply in Rossari Biotech IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Rossari Biotech IPO listing date is on Thursday, July 23, 2020.
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