Rossari Biotech IPO: Why Covid-19 outbreak may be positive for the company

Analysts at Choice Broking remain positive on the company's prospects on hopes that India could compete with China to become a global manufacturer in the post Covid-19 era

The financial year 2020-21 (FY21) is set to see its first initial public offering with Rossari Biotech’s IPO going live today. The IPO is set to break a four-month dry spell in the primary market as business activities remained largely suspended due to Covid-19-induced nationwide lockdown.

The offer will stay open till Wednesday, July 15, and the company aims to mop up approximately Rs 500 crore at the upper end of the price band of Rs 423 – Rs 425 per share.

The specialty chemical company is offering a mix of fresh issue and offer for sale (OFS). Promoters