Chemicals maker Rossari Biotech’s IPO public initial offer (IPO) got 60 percent subscription on the first day.

The issue size of this Rossari Biotech’s IPO is 81,73,530 shares. The company received bids for 49,30,030 shares on the first day.

The last date to subscribe to this IPO is July 15. The company has fixed a price of Rs 423 to Rs 425 per share for this IPO.

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If the upper price band is considered, then this IPO is around Rs 496 crore. The IPO was subscribed 41 per cent in the Qualified Institutional Buyer category.

At the same time, this IPO got 11 percent subscription in the non-institutional investors category.

At the same time, the company’s IPO in the retail category was subscribed 92 percent.

Rosari Biotech has raised Rs 149 crore from major investors before this IPO. With this initial issue of the company associated with the chemical industry,

The four-month drought in the IPO market has ended.

Earlier in March, the IPO of SBI Cards & Payment Services came. The proceeds of this issue will be used by Rossari Biotech to meet working capital requirements,

pay off certain debts of the company and for general business purposes. The equity shares of the company will be listed on NSE and BSE.

Anchor investors are institutional investors who are offered a stake in an initial public offering (IPO) before it opens. Rosari Biotech’s IPO was open from 13 to 15 July.

SBI Cards IPO came in March. SBI cards had kept the issue price band at Rs 750-755 per share.employees got a discount of Rs 75 per share on this IPO.

 That is, the employee of SBI got a share of Rs 675.

If we talk about the company, then Rosary Biotech is a company manufacturing special chemicals.

The company manufactures products for household and personal needs, textiles, performance related and animal health and nutrition.

Apart from India, this company has expansion in 17 states including Vietnam, Mauritius and Bangladesh.