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Invest19 shared a linkNext week on July 13, 2020, the Rossari Biotech Ltd. will launch its initial public offering (IPO), and finally, put an end to nearly four-month of inactivity for IPOs due to COVID-19 in the domestic markets. This textile and speciality chemicals manufacturing company will be the first to be... Next week on July 13, 2020, the Rossari Biotech Ltd. will launch its initial public offering (IPO), and finally, put an end to nearly four-month of inactivity for IPOs due to COVID-19 in the domestic markets. This textile and speciality chemicals manufacturing company will be the first to be listed in the lockdown phase. In times when the pandemic disrupted the economy, many companies postponed their IPO launches except the Rossari Biotech which decides to raise Rs. 496.25 crore by selling 1.16 crore at Rs. 423-425 per equity share, as per the red-herring prospectus.
The company is looking forward to its debt repayment by raising funds by ‘going public.’ The IPO consists – a fresh issue and an offer-for-sale by two promoters which are Edward Menezes and Sunil Chari. Each of them selling Rs. 52.5 lakh shares. MorePost is under moderationStream item published successfully. Item will now be visible on your stream. -
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