Mehta Equities has come out with its report on Rossari Biotech. The research firm has recommended to "Subscribe'' the IPO in its research report as on July 10, 2020
Mehta Equities' IPO report on Rossari Biotech
Rossari Biotech Ltd is a decade old company based out of Mumbai. It is one of the leading specialty chemicals manufacturing company in India catering to various segments. It serves customers across FMCG, Apparel, Poultry and Animal Feed industries through its diversified product portfolio. Company’s business is organized in 3 main product categories namely Home, Personal Care and Performance Chemicals, Textile Specialty Chemicals, Animal Health and Nutrition. As on May 31, 2020, it had a range of 2,030 different products sold across these categories. Rossari Biotech manufactures majority of its products in-house from their manufacturing facility at Silvassa and currently it is setting up another manufacturing facility at Dahej in Gujarat with a proposed installed capacity of 132,500 MTPA. It has pan India distribution network through 204 distributors and 17 countries through 29 distributors with operations in India as well in 17 foreign countries including Vietnam, Bangladesh and Mauritius.
Valuation and Outlook
Considering all the above factors we recommend high risk investors can “SUBSCRIBE” taking into consideration risk appetite of volatile equity markets ahead of COVID-19 spread while moderate to low risk investors can give a miss to the offer.
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