The Rs 496 crore initial public offering (IPO) of speciality chemicals maker Rossari Biotech received massive investor interest on the final day of the offer on Wednesday, July 15, resulting in the IPO getting subscribed 79.37 times.
By 5 pm, the public offering had attracted bids for 64,87,33,645 shares, against the issue size of 81,73,530 shares. The quota for institutional investors was subscribed 85.26 times while those of non-institutional investors and retail individual investors was subscribed 239.83 and 7.23 times, respectively.
The company had fixed a price band of Rs 423-425 for the IPO.
Last week, the company raised Rs 148.87 crore from anchor investors, which included top mutual funds houses such as SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund.
Rossari Biotech is a manufacturer of specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries by offering a diversified product portfolio and operates in 18 countries including India, Bangladesh, Vietnam, and Mauritius.