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Rossari Biotech receives three times the demand of shares on offer in IPO

On Tuesday, the IPO garnered bids for 24.3 million shares as against 8.17 million available

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Axis Capital and ICICI Securities are the investment banks handling the issue. Illustration: Ajay Mohanty

1 min read Last Updated : Jul 15 2020 | 1:47 AM IST

Rossari Biotech has received three times the demand of shares on offer in its initial public offering (IPO), which closes on Wednesday.

On Tuesday, the IPO garnered bids for 24.3 million shares, as against 8.17 million available.

The price band for the IPO is Rs 423-425 per share. At the top end, the IPO size works out to nearly Rs 500 crore and implies a post-IPO market cap of Rs 2,207 crore.

Axis Capital and ICICI Securities are the investment banks handling the issue.

Topics : initial public offering IPO Market news Chemical industry