IPO is going to be issued in the stock market after 4 months due to corona crisis and lockdown. The name of the IPO opening today is Rossari Biotech. The company's plan is to collect Rs 496 crore through IPO. The IPO of this chemical company will open on 13 July and will close on 15 July. The price of which has been fixed at Rs 423-425 per share. The last IPO in the stock market this year was SBI Cards. This IPO has closed on 5 March. After which the lockdown was issued across the country from 25 March, and no IPO came.

Company Details: Rosary Biotech is a renowned chemicals company in Mumbai. The business of this company is divided into three parts.

1. Home, personal care and performance chemicals (HPPC)
2. Textile Specialty Chemicals
3. Animal Health and Nutrition Products (AHNP)

Details of the company's balance sheet: The total income of Rosary Biotech in the fiscal year 2020 was Rs 603.82 crores. Meanwhile, the remaining profit of the company after paying tax was Rs 65.25 crore. Between FY 2018 and 2020, the company's total income grew by 41.65 percent CAGR. Whereas after paying tax, profit has increased by 60.27 percent CAGR. The company's turnover in the fiscal year 2020 was Rs 600 crore.

Should you invest in this IPO ?: Different brokerage houses had different advice in terms of subscribing to this IPO. Some are advising to buy it, while some were talking about staying away from it during this difficult period. Rosary is one of the leading biotech speciality chemicals manufacturing company. To make chemical in Silvassa plant of Gujarat, which has a capacity of 100,000tpa. Its new plant is going to be released in Dahej by March 2021, with a capacity of 1,32,500tpa. Brokerage house Anand Rathi has said to invest in this IPO.

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