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Rossari Biotech IPO: How to check allotment status

The allotted equity shares are expected to be credited to depository  participant accounts on July 22. This would be the first listing during the lockdown and second after SBI Card in 2020

twitter-logoBusinessToday.In | July 21, 2020 | Updated 17:10 IST
Rossari Biotech IPO: How to check allotment status
The listing of the speciality chemical maker Rossari Biotech's equity shares on NSE and BSE is scheduled on July 23

The allotment status of the initial public offering (IPO) of Rossari Biotech is likely to be announced today. The IPO was subscribed over 79 times on the last day of bidding on Wednesday.

Participants of the IPO can check their allotment status on the website of registrar Link Intime India.

How to check Allotment Status?

Step 1: Click and select your company name as Rossari Biotech

Step 2: Enter your permanent account number (PAN), or application number or Depository/Client ID

Step 3: Enter Captcha and submit to get your allotment status.

The listing of the speciality chemical maker Rossari Biotech's equity shares on NSE and BSE is scheduled on July 23. The allotted equity shares are expected to be credited to depository  participant accounts on July 22. This would be the first listing during the lockdown and second after SBI Card in 2020.

The Rs 500-crore IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares, NSE data show. The IPO comprised a fresh issue of shares to the tune of Rs 150 crore and sale of more than 1 crore equity shares by the company's promoters through offer-for-sale route.

The issue size of the Mumbai-based speciality chemicals maker was fixed at around Rs 494-Rs 496. At the upper end of the price band, the IPO size is about Rs 496 crore. The face value of each share is Rs 2. Company's market capitalisation is pegged at Rs 2,207 crore.

Net proceeds from the issue will be utilised for funding working capital requirements, repaying certain debt availed by the company and for general corporate purposes. The IPO was managed by lead managers Axis Capital and ICICI Securities.

The category allocated for qualified institutional buyers (QIBs) was subscribed 85.26 times and non-institutional investors 239.83 times. Retail investors sent 7.23 times bids for the portion allocated for them. The price range for the offer was fixed at Rs 423-425 per share.

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