Rossari Biotech IPO Opens For Subscription. Here Is What You Need To Know

Rossari Biotech IPO: Rossari Biotech's Rs 494-496 crore initial public offering (IPO) opened for subscription today. The Mumbai-based specialty chemicals maker is offering shares for sale via IPO in the price band of Rs 423-425. At the upper end of the price band, the offer for sale is estimated at Rs 446.25 crore. Investors can bid for the IPO in lot size of 35 shares and in multiples of 35 shares thereof. Given the issue price range, one lot of Rossari shares will cost Rs 14,805-14,875. The proceeds from Rossari Biotech share sale will be utilised for funding working capital requirements, repayment/prepayment of certain loans and for general corporate purposes..Rossari Biotech IPO: Here is all you need to know:.Rossari Biotech is a chemicals manufacturing company in India. It provides customized solutions to industrial and production requirements of its customers, primarily in the FMCG, apparel, poultry and animal feed industries through its diversified product portfolio mix comprising home, personal care and performance chemicals; textile specialty chemicals; and animal health and nutrition products..Rossari Biotech company profile:.Rossari Biotech operates in India as well as in 17 foreign countries including Vietnam, Bangladesh and Mauritius. It is the largest manufacturer of textile specialty chemicals in India providing textile specialty chemicals in a sustainable, eco-friendly yet competitive manner, HDFC Securities said in a research report..Rossari Biotech's business is organized in three main product categories - home, personal care and performance chemicals, textile specialty chemicals and animal health and nutrition products. As on May 31, 2020, it had a range of 2,030 different products sold across the three product categories, HDFC Securities noted..Rossari Biotech IPO details:.Rossari Biotech's IP consists of fresh issue of shares along with offer for sale from shareholders. The proceeds from offer for sale will not be received by Rossari Biotech, HDFC Securitis said in a research report..The proceeds from Rossari Biotech IPO will be utilised for repayment/prepayment of loans, funding working capital requirements and general corporate purposes..Key concerns about Rossari Biotech:.The continuing effect of the COVID-19 pandemic on business and operations is highly uncertain and cannot be predicted, HDFC Securities said in its report.."Rossari Biotech is the largest manufacturer of textile specialty chemicals in India and its business and financial performance is significantly dependent on sale of specialty chemicals to Indian textile manufacturers and export of its specialty chemicals to textile manufacturers in Bangladesh, Vietnam, and other global markets," HDFC Securities said.."As a result of RBL's dependence on the textile industry, its sales volumes, profitability and liquidity are closely tied to the demand for textiles in India and globally and a slowdown in the textile industry may result in a reduction in the volume of the textile chemicals business, which could materially and adversely affect the business, financial condition and results of operations," HDFC Securities added.

Rossari Biotech IPO Opens For Subscription. Here Is What You Need To Know

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