Rossari Biotech IPO subscribed over 79 times on the last day

The quota for institutional investors was subscribed 85.26 times on the final day.

Jul 16, 2020 08:07 IST India Infoline News Service

Initial Public Offer, IPO
The specialty chemical manufacturer Rossari Biotech IPO has received bids for 64.87 cr shares on the last day as against 81.73 lakh shares on offer, as per the NSE data. The issue was subscribed 79.37 times.

The quota for institutional investors was subscribed 85.26 times while those of non-institutional investors and retail individual investors was subscribed 239.83 and 7.23 times, respectively.

The price band for the IPO was fixed between Rs423-425 per share and opened for bidding on 13 July.

On July 10, the company raised Rs148.87cr from marquee anchor investors i.e Abu Dhabi Investment Authority, Malabar India Fund, Ashoka India Opportunities fund besides large domestic mutual fund houses like HDFCMF, ICICIMF, SBIMF, SUNDARAMMF and AXIS MF under various or individual schemes.

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