News Details
Category : IPO
Headline : Rossari Biotech Ltd. debuts with 57.64% premium at Rs 670.00
Date: 23/07/2020 19:00
Rossari Biotech Ltd. makes a strong debut on the bourses with scrip got listed at Rs 670.00 on the Bombay Stock Exchange, a 57.64 per cent premium to its issue price of Rs 425.00. On the National Stock Exchange, the stock was listed at Rs 669.25.

The company, which raised 1.17 Cr from initial public offering, was subscribed 55.20 times, receiving bids for 6,445.38 lakhs shares against the total issue size of 116.76 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Jul 13 to Jul 15.

Following a strong opening, the scrip touched an intraday high of Rs 804.00 and a low of Rs 663.55, before closing the session up by 74.67 per cent to its listing price at Rs 742.35 on the BSE.

The company anticipates using the proceeds of the issue for Repayment/prepayment of certain indebtedness availed by the Company (including accrued interest), Funding working capital requirements and General corporate purposes.

Axis Capital Ltd.,ICICI Securities Ltd as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 38,140.47, up 268.95 points, or 0.71 per cent.