The Rossari Biotech IPO has been over-subscribed by 79 times

Mumbai based, Rossari Biotech’s Rs 496 crore subscribed over 79 times on its final day.

The Rossari Biotech IPO has been over-subscribed by 79 times. However, the ₹496 crore initial public offering (IPO) of speciality chemicals maker Rossari Biotech received massive investor interest on the final day of the offer on Wednesday, resulting in the IPO getting subscribed 79.37 times.

The public offering attracted bids for 64,87,33,645 shares, against the issue size of 81,73,530 shares. The quota for institutional investors was subscribed 85.26 times. While those of non-institutional investors. And retail individual investors was subscribed 239.83 and 7.23 times, respectively.

The company had fixed a price band of ₹423-425 for the IPO. The face value was Rs 2 and minimum applications were of 35 shares.

Last week, the company raised ₹148.87 crore from anchor investors. Which was including mutual funds houses such as SBI Mutual Fund. As well as HDFC Mutual Fund and ICICI Prudential Mutual Fund.

Rossari Biotech is a manufacturer of specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries. It operates in 18 countries including Bangladesh, Vietnam, and Mauritius.

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