Millennium Post

Rossari Biotech makes stellar stock market debut; lists with premium of 58 pc

New Delhi: Shares of specialty chemicals manufacturing firm Rossari Biotech made a stellar debut at the bourses on Thursday and jumped nearly 58 per cent against its issue price of Rs 425 per share.

The stock listed at Rs 670, registering a gain of 57.64 per cent from its issue price on the BSE. It later, zoomed 66.15 per cent to Rs 706.15.

At the NSE, it debuted at Rs 669.25, rising sharply by 57.47 per cent.

The Rs 496-crore IPO of Rossari Biotech was subscribed by a whopping 79.37 times.

The price range for the offer was fixed at Rs 423-425 per share.

Rossari Biotech's initial share-sale ended four months of inactivity in the IPO market.

Rossari Biotech is a specialty chemicals manufacturing firm with focus on home and personal care, performance chemicals, textile specialty chemicals and animal health and nutrition products.

The offer was managed by Axis Capital and ICICI Securities.

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