Rossari Biotech IPO subscribed 79.4 times, generates bids worth Rs 27K cr

Rossari is the first IPO to hit the domestic markets since a national lockdown was declared in early-March.

Rossari Biotech has received 79.4 times the demand of shares on offer in its initial public offering (IPO), on Wednesday, which is the last day of the issue. The institutional investor portion of the IPO was subscribed more than 85 times, the wealthy investor portion subscribed 240 times, and the retail investor portion garnered 7.2 times subscription. 

The IPO saw over 600,000 application and generated bids worth over Rs 27,000 crore.

Given the high demand, the IPO is likely to be priced at the top-end of the price band of Rs 423-425 per share. At the top end, the company commands a market capitalisation of Rs 2,207 crore on post-IPO basis.