After about four months of drought, the IPO market may see some movement from Monday. This week chemical manufacturer Rosari Biotech is preparing to bring an initial public offer (IPO) of about 500 crore rupees. After the IPO brought by SBI Cards & Payment Services in the initial week of March, the IPO market was completely dry as many companies kept their issue dates even after SEBI got the green signal due to huge fluctuations in the stock market. It was deferred for further Rosary Biotech has raised Rs 149 crore from the premier investor before the IPO.
As per the information provided by the company, it has earned 148.87 crores through leading investors like ICACI Prudential Mutual Fund, SBI Mutual Fund, Abu Dhabi Investment Authority, HDFC Mutual Fund, Axis Mutual Fund, Sundaram Mutual Fund, HDFC Life Insurance Company, and Goldman Sash India. Rossari Biotech has said that it has allocated 35,02,940 shares to 15 major investors at Rs 425 per share.
The company has launched 50 crore new shares under this IPO. Through the offer for sales, the company's promoters are going to sell 1,05,00,000 equity shares. The size of this IPO of the company has been kept at about Rs 496 crore. the company has fixed a price of Rs 423-425 per equity share for this IPO. This public offer is going to be subscribed from 13th July to 15th July.
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