Rossari Biotech IPO
Rossari Biotech IPO — date, price band, lot size & details 2020
Rossari Biotech listed on 23 Jul 2020 at ₹669.25, 57.5% above the ₹425 issue price.
Rossari Biotech makes specialty chemicals for the FMCG, apparel, poultry and animal feed industries, and was the largest maker of textile specialty chemicals in India. Its total income was Rs 603.82 crore in FY2020.
Stock price
Rossari Biotech is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 13 Jul 2020
- Close 15 Jul 2020
- Allotment 20 Jul 2020
- Refund/credit 21 Jul 2020
- Listing 23 Jul 2020
Issue summary
The terms of the offer, as filed.
| IPO Dates | 13 to 15 Jul, 2020 |
|---|---|
| Price Band | ₹423 – ₹425 |
| Face Value | ₹2 |
| Lot Size | 35 Shares |
| Issue Size | ₹496.25 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,875 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹425 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹14,875 |
| Retail (max) | 13 | 455 | ₹1,93,375 |
| S-HNI (min) | 14 | 490 | ₹2,08,250 |
| S-HNI (max) | 67 | 2,345 | ₹9,96,625 |
| B-HNI (min) | 68 | 2,380 | ₹10,11,500 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income doubled from Rs 300.43 crore in FY2018 to Rs 603.82 crore in FY2020.
- 02Profit after tax rose from Rs 25.40 crore in FY2018 to Rs 65.25 crore in FY2020.
- 03EBITDA rose from Rs 42.63 crore in FY2018 to Rs 104.53 crore in FY2020.
- 04It was the largest maker of textile specialty chemicals in India as on 30 September 2019, and sells in 17 foreign countries.
- 05Home, personal care and performance products made up 46.81% of FY2020 revenue, so it is not tied to textiles alone.
Risks · 6
- 01Its top five customers gave 43.95% and its top 10 customers gave 53.72% of FY2020 revenue from operations.
- 02Total borrowing rose from Rs 4.53 crore in FY2019 to Rs 66.93 crore in FY2020.
- 03Rs 446.25 crore of the Rs 496.25 crore issue went to the promoters as offer for sale.
- 04Its main plant is at Silvassa, with an installed capacity of 100,000 MTPA, so a disruption there would hit output.
- 05It sold about 1,543 textile specialty chemical products as on 31 May 2020, so a slowdown in textiles would weigh on sales.
- 06Promoter holding fell from 95.06% before the issue to 72.69% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Rossari Biotech offer document.
| Metric | 31 Mar 2020 | 31 Mar 2019 | 31 Mar 2018 |
|---|---|---|---|
| Assets | 471.52 | 249.85 | 164.95 |
| Total Income | 603.82 | 517.12 | 300.43 |
| Profit After Tax | 65.25 | 45.68 | 25.40 |
| EBITDA | 104.53 | 77.63 | 42.63 |
| NET Worth | 286.68 | 123.81 | 87.08 |
| Reserves and Surplus | 276.53 | 119.41 | 82.68 |
| Total Borrowing | 66.93 | 4.53 | 20.95 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹143.74 Cr of the issue is earmarked to named objects.
About the company
It sells home, personal care and performance chemicals, textile specialty chemicals, and animal health and nutrition products. According to the F&S Report in its RHP, it was the largest manufacturer of textile specialty chemicals in India as on 30 September 2019.
It operates in India and 17 foreign countries, including Vietnam, Bangladesh and Mauritius. Its Silvassa plant has an installed capacity of 100,000 MTPA, and it was setting up a plant at Dahej with 132,500 MTPA.
The IPO was Rs 496.25 crore, with Rs 50.00 crore of fresh issue and Rs 446.25 crore of offer for sale by the two promoters. The fresh money, together with a pre-IPO placement, was mainly planned for repaying debt and funding working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Rossari Biotech IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Rossari Biotech?
The current Grey Market Premium is ₹177.5, or 42% over the issue price.
What is the Rossari Biotech IPO price band?
₹423 to ₹425, on a face value of ₹2.
When is the allotment?
The basis of allotment is 20 July 2020, with listing on 23 July 2020.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
