Monday, 13 July 2020

Rossari Biotech Limited IPO subscription

Rossari Biotech Limited IPO subscription on Day 1 (July 13, 2020) at 05.00 pm. 

Overall 0.60 times - QIB 0.41 times, HNI 0.11 times and Retail 0.92 times.
 
Issue Highlights

Issue Size (Fresh+OFS)
Rs 496.24 crore (Fresh Issue Rs.50 crore and OFS Rs.446.25 Crore)
Price Band
Rs. 423 - Rs. 425
Allocation Category wise
QIB: 50% HNI: 15% and RII 35%
Issue Period
July 13, 2020 to July 15, 2020
BRLMs
Axis Capital Limited & ICICI Securities Ltd.
Advisor
Axcelus Finserv Private Limited
Promoters
Mr. Edward Menezes-Executive Chairman and Mr. Sunil Chari - Managing Director of Rossari Biotech Limited

The Company proposed to raise ₹ 496.24 Cr via the fresh issue of ₹ 50 Cr and OFS of ₹ 446.25 Cr. The net proceeds from the fresh issue to prepay or repay certain indebtedness, including accrued interest, fund working capital requirements and for general corporate purposes. 

A total of 8 mutual funds through 20 schemes bid for the anchor portion. 

Institutional investors that participated in the anchor allotment included Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae Asset Mutual Fund, Goldman Sachs, HFDC Mutual Fund, SBI Mutual Fund, among others.

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