Comments
Mumbai-based Rossari Biotech, a speciality chemical manufacturer, has received market regulator SEBI’s approval for its Initial Public Offering (IPO). The company had filed a Draft Red Herring Prospectus (initial papers) with SEBI on December 18, 2019.
As per market sources, IPO issue size will be about ₹700 crore.
According to the DRHP, the company is seeking a new issue of ₹150 crore and Offer For Share of up to 1.05 crore equity shares of face value ₹2 each.
Axis Capital and ICICI Securities have been appointed as the book running lead managers for the share sale
As per FY19 figures, Rossari’s revenue from the sale of the home, personal care and performance products and textile chemicals constituted 37.81 per cent and 52.18 per cent of the total revenues, respectively. It recently diversified into the animal health and nutrition segment under its acquisition of Lozalo. Between FY17-19 the company’s total revenues have increased at by 41.07 per cent per annum.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.