Stellar listing for Rossari Biotech - stock price surges over 16% on listing day

• Rossari Biotech listed at ₹677.10 on the bourses, with an upside of 59%
• The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 79 times, with non-institutional investors leading the charge.
• The IPO was issued at a price band of ₹425.

The ₹496 crore IPO of Rossari Biotech had a bumper listing today. The stock added nearly 16.4% in a few hours of its listing debut.

The IPO was issued at a price band of ₹425, but it listed at ₹677.10, with an upside of 59%

Its market cap rose to ₹3,981 crore. A total traded quantity of 18.36 lakh shares changed hands on BSE amounting to a turnover of ₹128.14 crore.

The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 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.

The reason behind the bumper listing is the company's wide variety of customers ranging from FMCG and apparel to poultry and animal feed industries to companies that make home and personal care products. Some of the significant customers include HUL, Panasonic India, RSPL Ltd, IFB Industries Ltd. and Millennium Papers.


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