Rossari Biotech was incorporated on March 6, 2003, as Rossari Labtech. The company is one of the leading specialty chemicals manufacturing companies in India based on sales for Fiscal 2019 providing customized solutions to specific industrial and production requirements of customers primarily in the FMCG, apparel, poultry, and animal feed industries through a diversified product portfolio comprising home, personal care and performance chemicals; textile specialty chemicals; and animal health and nutrition products.
| Bidding Dates |
|---|
| 13 Jul 2020 - 15 Jul 2020 |
| Subscription |
|---|
| 79.37x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,875 | 1 | 13 | 35 | 11.7 M | ₹423 - ₹425 | 77.51 % | ₹4941.5 M - ₹4964.9 M | RHP DOC |
Rossari Biotech IPO SUBSCRIPTION STATUS
15 Jul '20Rossari Biotech IPO overall subscription rate was 79.37 times the total available shares
Rossari Biotech IPO retail subscription rate was 7.23 times in the retail segment
Rossari Biotech IPO non-institutional investor subscription rate was 239.83 times in the non-institutional investor category
Rossari Biotech IPO Qualified Institutional Bidder subscription rate was 85.26 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Jul 2020 (Day 2) | 2.51x | 4.34x | 2.75x |
15 Jul 2020 (Day 3) | 7.23x | 239.83x | 85.26x |
13 Jul 2020 (Day 1) | 0.92x | 0.11x | 0.41x |
Rossari Biotech FINANCIALS
| Period | Net Profit (Rs in millions) | Interest earned (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY20 | 652.5 | 6,000.9 | 548.3 | 548.3 |
| FY19 | 456.8 | 5,162.2 | 711.8 | 711.8 |
| FY18 | 254.0 | 2,990.6 | 255.7 | 255.7 |
Rossari Biotech IPO SUBSCRIPTION STATUS DETAILS
Rossari Biotech had 11.7 M shares on offer
Rossari Biotech IPO offer price was in the range ₹423 - ₹425
Rossari Biotech IPO minimum Investment was ₹14875
Rossari Biotech IPO issue size was ₹ 4941.5 M - ₹ 4964.9 M
Rossari Biotech had a minimum lot size of 35 Shares per application
Rossari Biotech NUMBER OF SHARES ON OFFER
Rossari Biotech IPO IMPORTANT DATES
| Issue Open Date | 13 Jul 2020 |
| Issue close Date | 15 Jul 2020 |
| Allotment Date | 20 Jul 2020 |
| Refund Date | 21 Jul 2020 |
| Demat Account Credit Date | 22 Jul 2020 |
| Listing Date | 23 Jul 2020 |
| Listing on Exchange(s) | NSE and BSE |
| Rossari Biotech Allotment Status | Exchange |
Rossari Biotech IPO subscription opened on 13 Jul 2020, and closed on 15 Jul 2020
IPO allotment for Rossari Biotech was finalized on Monday, 20 Jul 2020
IPO listing for Rossari Biotech was on NSE and BSE on Thursday, 23 Jul 2020
Rossari Biotech IPO LISTING GAINS
| Issue Price (adjusted) | 425.0 |
| Listing Open Price | 670.0 |
| Listing Close Price | 742.4 |
| Listing Gain% | 57.6% |
| Current Gain% | 20.9% |
Rossari Biotech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rossari Biotech Ltd. | 514 | 2669.2 | 18.9 | 1.6 | 1.1 | 11.2 | 6.5 | 2418.7 | 16 | 149.2 | 9.4 | 27.2 | 11.6 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Rossari Biotech INFORMATION ON IPO ISSUE
About Rossari Biotech
Rossari Biotech was incorporated on March 6, 2003, as Rossari Labtech. The company is one of the leading specialty chemicals manufacturing companies in India based on sales for Fiscal 2019 providing customized solutions to specific industrial and production requirements of customers primarily in the FMCG, apparel, poultry, and animal feed industries through a diversified product portfolio comprising home, personal care and performance chemicals; textile specialty chemicals; and animal health and nutrition products.
Object of the Issue
- Repayment/prepayment of certain indebtedness availed by the company (including accrued interest)
- Funding working capital requirements
- General corporate purposes
Rossari Biotech - PROMOTERS
| Name |
|---|
| Edward Menezes |
| Sunil Chari |
Rossari Biotech Book Running Lead Manager
Axis Capital Limited
rbl@axiscap.in
ICICI Securities Limited
rossari.ipo@icicisecurities.com
Rossari Biotech Registrar to the Offer
Link Intime India Private Limited
rossaribio.ipo@linkintime.co.in
Rossari Biotech Strengths
Product portfolio
The company has a diversified product portfolio addressing the needs of varied and long-standing customers across industries
Largest producer
According to the F&S Report, the company is the largest manufacturer of textile specialty chemicals in India as of September 30, 2019.
Strong R&D capabilities
R&D efforts place significant emphasis on improving production processes, improving the quality of present products, creating new products and formulations, and making the production processes of customers more efficient and sustainable through effective and eco-friendly product
Rossari Biotech Risks
Dependent on textile industry
The company is reliant on the demand from the textile industry for a significant portion of its revenue
Dependent on one facility
The manufacturing facility situated in Silvassa is critical for business and any disturbance, slowdown, or shutdown of the Silvassa Manufacturing Facility, may have an adverse impact on the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 446.5 crore, of 10,500,000 shares. It also consists of a fresh issue of Rs 50.0 crore.
The promoters of the company are Edward Menezes and Sunil Chari.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 423.0 - 425.0.
The IPO application opens on Jul 13, 2020 and closes on Jul 15, 2020.
The minimum lot size for the IPO is 35. The maximum lot size for the IPO is 455.
For all category investors, the minimum application amount for this IPO is Rs. 14,875.0, the maximum value for this IPO is Rs 193,375.0.
This IPO will be allotted on Jul 20, 2020.
The refund will be credited to your account on Jul 21, 2020.
The allotted shares will be credited to your demat on Jul 22, 2020.
Rossari Biotech Ltd.’s shares listed on the stock exchanges on Jul 23, 2020.