Rossari Biotech will list tomorrow but the grey market is already offering a premium of over 40%
Rossari Biotech IPOwas open for bidding between July 13-15, and it was oversubscribed by 79 times.
- A chemical manufacturing company based out of Mumbai, Rossari Biotech recently announced that it is hiring, stating that it is growing manifold and needs manpower.
- The Rossari Biotech IPO grey market premium is currently hovering above 40%, which suggests there could be a blockbuster listing on the cards.
- Check out the latest news and updates on Business Insider.
Rossari Biotech has an issue price of ₹425. However, the stock is already hot in the grey market. It is currently hovering in the range of ₹585-600, which suggests a grey market premium of up to ₹160-180 per share. This is an upside of over 40% over the issue price.
TOP VIDEOS FOR YOU
Rossari Biotech grey market premium – blockbuster listing on the cards?
AdvertisementGrey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s share. It’s not an official measure, though, but it shows whether there is enough demand for a share in the market.
If the grey market premium on Rossari Biotech is anything to go by, the shares of the company could list at around ₹600, which is an upside of ₹175 over the issue price.
Overall, the Rossari Biotech IPO has been oversubscribed by 79 times, with non-institutional investors leading the charge, oversubscribing by almost 240 times.
Non-institutional investors are those who bid more than ₹2 lakh in an IPO.
Rossari Biotech is hiring — and the company’s average salary is ₹10 lakh per year
Rossari Biotech IPO — 40 scientists, China, and other factors that make the share sale hot
Barbeque Nation IPO must be priced the same way as its menu —value for money