India: Rossari Biotech Raises $19.8m From Anchor Investors Ahead Of IPO

Saturday July 11, 2020.

Photo by Louis Reed on Unsplash

Speciality chemicals manufacturer Rossari Biotech Ltd on Friday said that it has raised Rs148.87 crore from anchor investors, ahead of its IPO that opens on 13 July.

Institutional investors that participated in the anchor allotment included Abu Dhabi Investment Authority, Axis Mutual Fund, Mirae Asset Mutual Fund, Goldman Sachs, HFDC Mutual Fund, SBI Mutual Fund, among others. Shares were allotted at a price of Rs425 apiece.

Rossari has fixed a price band of Rs423– 425 per share for the IPO. The IPO will close on 15 July.

This is the first IPO to hit the Indian markets since SBI Cards and Payments Services Ltd raised over Rs10,000 crore in early March.

Investment banks Axis Capital and ICICI Securities are managing the IPO.

This article was first published on livemint.com.

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