Rossari Biotech is coming out with an initial public offering (IPO) to raise around Rs 496.48 crore. The issue will open on July 13, 2020 and will close on July 15, 2020. It has fixed a price band of Rs 423-425 per share. The shares of the company are proposed to be listed on NSE and BSE.
The net proceeds from the issue will be utilised to fund working capital requirements, repaying certain indebtedness availed by the company and for general corporate purposes. The book running lead managers to the issue are Axis Capital and ICICI Securities.
Rossari Biotech is a specialty chemicals manufacturing firm with focus on home and personal care, performance chemicals, textile specialty chemicals and animal health and nutrition products. Apart from India, it has operations in 17 countries including Vietnam, Bangladesh and Mauritius.
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