Rossari Biotech IPO - Grey Market, GMP & Reviews

IPO Details

Issue Date 13/07/2020 - 15/07/2020
Issue Size ₹550.00 Cr
Issue Price ₹423 - 425
Market Lot 35 Shares
Shares on Offer 10,500,000
Registrar Link Intime
GMP ₹145 - 150
Kostak ₹500 - 525
Subject to Sauda ₹3100 - 3200
Listing Date 23/07/2020
Listing Price ₹670
Listing Gain% 57.64

About Rossari Biotech Ltd

Rossari Biotech was founded in 2003 as a partnership firm in the name of Rossari Labtech by Mr. Edward Walter Menezes, and Mr. Sunil Srinivasan Chari, who are both career-technocrats cumulatively having over 45 years of experience in the specialty chemicals industry. It was further renamed to Rossari Biotech Limited and converted into a company in 2009. Since our inception, we have focused on providing customized solutions to our customers in a cost and time efficient manner. We believe our success is the result of sustained efforts over the decades in all areas of our business, such as product innovation, process improvements for our customers’ production cycle, agile customized solutions, our sustainable eco-friendly portfolio of products and increased scale of operations. Our business operations have been led by our experienced Key Managerial Personnel who have over 80 years of experience in the specialty chemicals industry cumulatively. Today, our Company is a pioneering force in the Indian specialty chemicals market and Rossari is considered a well-known brand in this market.

They are an organization that encourages natural curiosity, as a way to learn and become better. They believe that success can only be achieved when a prepared mind meets the right opportunity. As an organization, they actively promote gender diversity and offer equal opportunities and responsibilities, irrespective of gender.

Incorporated in 2009, Rossari Biotech Ltd is a manufacturer of textiles specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries by offering a diversified product portfolio. Rossari Biotech operates in 18 countries including India, Bangladesh, Vietnam, and Mauritius.

As per the F&S Report published on 30th Sept 2019, it is the largest textile specialty chemical manufacturer in India. The business of the company can be classified into three main categories which are textile specialty chemicals; animal health & nutrition products; and home, personal care & performance chemicals. The company has 1,948 different products range under these three categories.

Most of the products of the company are manufactured in-house. It has a manufacturing unit located at Silvassa, Dadra & Nagar Haveli with an installed capacity of 100,000 MTPA. The company is also setting up a manufacturing unit at Dahej in Gujarat with an installed capacity of 132,500 MTPA. Rossari Biotech also has two R&D facilities in Silvassa and Mumbai locations to focus on new product development, formulations, and cost competitiveness. It has more than 194 distributors across India and 27 distributors spread in other 17 countries.

Mr. Edward Menezes and Mr. Sunil Chari are the promoters of the company.

The specialty chemical industry has immense scope of growth globally as well locally. The global specialty chemical industry is expected to grow at a CAGR of 5.3% and the Indian specialty chemical industry is expected to grow at a CAGR of 12%. The Asia Pacific countries are expected to grow in the range of 6-7%.

There is a major shift towards "green" chemicals that are bio-degradable and environment friendly. The global green chemicals market is expected to grow at a CAGR of 10.5% during 2019-2023.

The Indian specialty chemicals industry is driven by both domestic consumption and exports. Further fur to tightening of environmental norms in developed countries, the slowdown of China and the recently launched "Make in India" campaign are expected to add impetus to the emergence of India as a manufacturing hub for the chemicals industry in the medium term.

On the current parameters, the issue appears fully priced. However, considering bright prospects going forward with more than double installed capacity and rising patronage by top clients with long term relations, investors may consider investment for long term rewards.

Company Financials

Particulars 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets (In ₹ Millions) 4,715.15 2489.45 1649.50
Total Revenue (In ₹ Millions) 6,038.18 5171.24 3004.29
Profit After Tax (PAT) (In ₹ Millions) 652.53 456.83 254.03

Rossari Biotech Ltd IPO Reviews

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Subscription Details

Date & Time QIB NII RII Total
Day 1 - 13 July 2020 0.41 0.11 0.92 0.60
Day 2 - 14 July 2020 2.75 4.34 2.51 2.97
Day 3 - 15 July 2020 85.26 239.83 7.23 79.37

Allotment Status

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IPO Allotment Status

Rossari Biotech Ltd IPO FAQs

  1. When will Rossari Biotech Ltd IPO open?

    Rossari Biotech Ltd IPO will open on 13/07/2020 and close on 15/07/2020.

  2. What is the listing date of Rossari Biotech Ltd IPO?

    Rossari Biotech Ltd IPO will list on 23/07/2020.

  3. What is the offer price of Rossari Biotech Ltd IPO?

    The offer price of Rossari Biotech Ltd IPO is ₹423 - 425.

  4. What is the lot size of Rossari Biotech Ltd IPO?

    The lot size of Rossari Biotech Ltd IPO is 35.

  5. What is the Grey Market Premium (GMP) price of Rossari Biotech Ltd IPO?

    The Grey Market Premium (GMP) price of Rossari Biotech Ltd IPO is ₹145 - 150.

  6. What is the Kostak price of Rossari Biotech Ltd IPO?

    The Kostak price of Rossari Biotech Ltd IPO is ₹500 - 525.

  7. What is the Subject to Sauda price for Rossari Biotech Ltd IPO?

    The Subject to Sauda price for Rossari Biotech Ltd IPO is ₹3100 - 3200.

Rossari Biotech Ltd IPO Review/Comments

It's good information

HEMENVYAS

Is the Kostak price means per application signed? Who invests the application money? Is Subject to Sauda Price means for the entire allotment the payment. Here who invests the application money? Is the price same for minimum lot allotment and maximum allotment?

s jayasankar

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