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    Rossari Biotech IPO: Issue Opened Today, Know Whether It Is Good for Investment or Not!




    After 4 months IPO is coming to the stock market due to coronavirus and lockdown. The name of the IPO opening today is Rossari Biotech. The company plans to raise Rs 496 crore through an IPO. The IPI of this chemical company will open on 13 July and will close on 15 July. Its price band has been fixed at Rs 423-425 per share. The last IPO in the stock market this year was SBI Cards. The IPO closed on 5 March. After this, the lockdown started across the country from 25 March and no IPO came. The last IPO in the stock market this year was SBI Cards. The IPO closed on 5 March. After this, the lockdown started across the country from 25 March and no IPO came.

    Company details

    Rossari Biotech is a Mumbai-based specialty chemicals company. The business of this company is divided into three parts.

    1. Home, Personal Care and Performance Chemicals (HPPC)
    2. Textile Specialty Chemicals
    3. Animal Health and Nutrition Products (AHNP)

    Details of the company’s balance sheet

    The total revenue of Rosary Biotech for the fiscal year 2020 was Rs 603.82 crore. During this period, the net profit of the company after paying tax was Rs 65.25 crore. Between FY 2018 and 2020, the company’s total income grew by 41.65 percent CAGR. Whereas after-tax payment, profit has increased by 60.27% CAGR. The company had a turnover of Rs 600 crore in the fiscal year 2020.

    Should you invest in this IPO?

    Different brokerage houses have a different opinion on how to subscribe to this IPO. Some are advising to buy it, while some are talking about staying away from it in these difficult times.

    Rosary Biotech is a leading chemical manufacturing company. Its manufacturing capacity is 1,00,000 tpa at the Silvassa plant in Gujarat. Its new plant in Dahej is scheduled to start by March 2021, with a capacity of 1,32,500tpa. Brokerage house Anand Rathi has advised investing in this IPO. 

     

    Source




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