ROSSARI BIOTECH – Stock price hits Upper circuit of

ROSSARI BIOTECH  – Stock price hits Upper circuit of 20% during intraday trades on DAY 1

Speciality Chemicals manufacturer Rossari Biotech’s IPO of Rs.496 crore which was oversubscribed about 80 times had a blockbuster Listing on DAY 1.

On listing day the share price discovered in the pre-market opening session was Rs. 669, a premium of 57% over the offer price of Rs. 425.

The share hit the upper circuit during intraday trades on both the BSE (Rs.804) & NSE (Rs.803.1), a 20% circuit to the discovered price.

The stock closed around Rs.742 on both the BSE & NSE, a 75% gain to the offer price of Rs.425 rewarding investors on Day 1.

The Market Capitalization of the Company post today’s closing price stands at Rs.3,850 crores.

Founded in 2009 by technocrat entrepreneurs Mr.Edward Menezes & Mr.Sunil Chari Rossari Biotech is a leading speciality chemical manufacturer catering to the  to the FMCG sector, Apparel industry, poultry and animal feed  industry.

Speaking on this momentous occasion - Mr. Sunil Chari, Managing Director, Rossari Biotech Limited said “We are truly overwhelmed and humbled to have witnessed such a strong opening of the Company’s stock at BSE after oversubscription of almost 79.37 times, considering it was the first IPO to have been launch in these pandemic times and turbulent market conditions.

Adding to the stocks overwhelming listing on the bourses - Mr. Edward Menezes, Executive Chairman, Rossari Biotech said, “We thank the investors for expressing their confidence in us. We also stand firmly in our resolve and look forward to work towards optimum utilization of fund for repayment of debts, funding working capital requirements and general corporate purposes. We are grateful to our partners, customers and investors who have been a part of our journey, with us,” 

Ashishkumar Chauhan CEO BSE stated, “We are delighted to welcome Rossari Biotech to the BSE family. It has been a long hiatus in IPO for many months since COVID epidemic started. Rossari Biotech’s success in retail, HNI and institutional segments brings a good omen and shows tremendous appetite for good quality equity paper in Indian markets. BSE has been raising funds for corporates by way of bonds, commercial papers, sme, start up and raising rights issues during the Covid period. In the financial year 2020-21, from April 1,2002 till date, BSE has helped India Inc raise more than Rs 4.05 lakh crores.“

Tata Capital launches Commercial and SME Mobile app

Tata Capital launches Commercial and SME Mobile app
for hassle-free business loans

Tata Capital, the financial services arm of the Tata Group has launched the Tata Capital Commercial and SME Mobile app – to facilitate easy and convenient on the go account management for its Channel Financing and Term Loan Customers.

At Tata Capital, technology plays an important role in redefining customer journeys, creating new platforms and simplifying processes. Adopting a customer focused approach, a series of platforms and initiatives were launched for the retail as well as the commercial business. The latest Commercial and SME Mobile App offers customers an enhanced mobile service experience which is flexible and hassle free.

With an end to end digitized process, the company’s Channel Finance customers can now avail a host of features such as:

·         Instant access to account details

·         Apply and track limit activation requests

·         Raise Draw down requests and activate additional Limits for Channel Finance customers

·   Upload/Download documents including TDS & Stock and Debtor statements

·         Raise Service requests in one click

·         Track loan transaction and Repayment Schedule

Speaking about the new launch, Abonty Banerjee, Chief Digital and Marketing Officer, said, “Tata Capital is deeply invested in providing easy access of credit to merchants & dealers through its Channel Finance & Term Loan products. The Tata Capital Commercial & SME Mobile App will enable our customers to manage their existing accounts through the convenience of their mobile phone. The app is easy to use, secure and provides a wealth of add-on features which will be useful for all customers.”

Available on the Apple App store and the Google Play store, this app is yet another step by Tata Capital to enhance user experience for channel financing and term loan borrowers. With a completely digital interface, borrowers can now service their loans simply by logging into the app from their smart phone.