Rossari Biotech slips 3%; co raises ₹300 cr through preferential allotment

Our Bureau Mumbai | Updated on March 24, 2021

The shares of Rossari Biotech Limited slipped over 3 per cent intraday on Wednesday owing to general weakness in the market and on profit-booking. The company’s Board of Directors has approved the issuance of 30.12 lakh equity shares on a preferential basis aggregating to nearly ₹300 crore.

At 11:43 am, it was trading at ₹1072.95 on the BSE, down ₹39.50 or 3.55 per cent. It opened at ₹1104.10 as against the previous close of ₹1112.45. It hit an intraday high of ₹1104.10 and an intraday low of ₹1056.80.

On the NSE, it was quoting ₹1,072.55 per share, down ₹38.75 or 3.49 per cent.

Rossari Biotech’s board on Tuesday approved the issuance of up to 30,12,046 equity shares of the face value of ₹ 2/- each, on a preferential basis at ₹996 a share to SBI Mutual Fund, Ramesh Siyani, Arpit Kbandelwal, Malabar Select Fund, Malabar India Fund, Malabar Value Fund and India Acom Fund. Through the issue, the company has raised nearly ₹300 crore.

Published on March 24, 2021

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