The initial public offering of specialty chemical maker Rossari Biotech saw stellar response from investors last week.
The allotment details have been announced and the participants in public issue can get their allotment status on the website of registrar Link Intime India.
You can follow these steps to check your allotment:
Click here and select your company name as Rossari Biotech in the first box; in the second box, put your permanent account number (PAN), or application number (available at the time of filling up form) or DP/Client ID (Depository/Client identification number). And lastly, enter Captcha (Completely Automated Public Turing test to tell Computers and Humans Apart) in the third box available besides the same box and submit to get your allotment status.
The equity shares received in the allotment are expected to be credited to DP accounts on July 22 and the listing of shares is likely to take place on July 23.
Rossari Biotech was the first issue since the beginning of the lockdown to curb the outbreak of coronavirus and the second public issue in the year 2020 after SBI Card.
The public issue of specialty chemical manufacturer has seen a whopping 79.37 times subscription during July 13-15, largely due to strong market conditions, and given the strong financial performance, strong return ratios, rising opportunity in the hygiene space in COVID-19, etc.
A huge participation was seen from qualified institutional buyers and non-institutional investors in the public issue as their reserved portion subscribed 85.26 times and 239.83 times, respectively, while retail portion saw 7.23 times subscription. The price band for the issue was fixed at RS 423-425 per share.
The Rs 496-crore IPO consists a fresh issue of Rs 50 crore and an offer for sale of 1.05 crore equity shares by promoters Edward Menezes and Sunil Chari. Promoters and promoter group's shareholding in the company will be reduced to 72.69 percent post issue, from 95.06 percent earlier.
The company will utilise fresh issue proceeds for repayment/prepayment of certain indebtedness (including accrued interest) and funding working capital requirements, while it will not receive any funds from offer for sale.Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.