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.