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Rossari Biotech Ltd.

BSE: 543213 Sector: Industrials
NSE: ROSSARI ISIN Code: INE02A801020
BSE 00:00 | 01 Jul 871.10 -0.90
(-0.10%)
OPEN

873.05

HIGH

878.85

LOW

862.30

NSE 00:00 | 01 Jul 869.00 -4.05
(-0.46%)
OPEN

880.80

HIGH

882.00

LOW

850.40

OPEN 873.05
PREVIOUS CLOSE 872.00
VOLUME 1139
52-Week high 1620.60
52-Week low 795.05
P/E 61.43
Mkt Cap.(Rs cr) 4,795
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 873.05
CLOSE 872.00
VOLUME 1139
52-Week high 1620.60
52-Week low 795.05
P/E 61.43
Mkt Cap.(Rs cr) 4,795
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Rossari Biotech Ltd. (ROSSARI) - Company History

The Company was founded in 2003 as a partnership firm in the name of Rossari Labtech by Mr. Edward Walter Menezes and Mr. Sunil Srinivasan Chari who are both career-technocrats cumulatively having over 45 years of experience in the specialty chemicals industry. It was further renamed to Rossari Biotech Limited and converted into a company in 2009.The Company is mainly engaged in manufacturing selling and distribution of specialty chemicals. The products cater to global brands in the FMCG sector and find applications in a host of consumer-centric products and home and personal care products textile chemicals animal health and nutrition and cosmetic products.During the FY2020 5000000 equity shares of face value of Rs 10 each was sub-divided into 25000000 Equity Shares of face value of Rs 2 each. Accordingly 4400000 paid-up equity shares of face value of Rs 10 each was split into 22000000 Equity Shares of face value of Rs 2 each.The Company has issued and allotted 26400000 Equity Shares of face value of Rs 2/- each to the eligible Members of the Company in the ratio of 6(Six) Equity share for every 5 (Five) Equity shares as Bonus Equity shares. During the year 2019-20 in compliance with the provisions of Sections 42 & 62 of the Act and Rules made thereunder the Company has issued and allotted 2352920 Equity Shares of face value of Rs 2/- each to the eligible Qualified Institutional Buyers at issue price of Rs 425/- per Equity Share i.e. at a premium of Rs 423/- per Equity Share aggregating to Rs 999991000 /-on preferential basis through private placement.During the second quarter of FY2021the Company has completed Initial Public Offer (IPO) of 11676470 Equity Shares of the face value of Rs. 2/- each at an issue price of Rs. 425/- per Equity Share comprising offer for sale of 10500000 shares by Selling Shareholders and fresh issue of 1176470 shares. The Equity Shares of the Company were listed on 23 July 2020 on Bombay Stock Exchange and National Stock Exchange of India Limited.The Company has a wholly owned subsidiary Rossari Personal Care Products Private Limited (Formerly known as Neutron Impex Private Limited) which was engaged in the business of manufacturing exporting and importing specialty chemicals dyes etc. upto 31 March 2015. The Company has also acquired a Joint Venture (JV) company Buzil Rossari Private Limited engaged in the business of providing Trading of specialty chemicals. Buzil Rossari Private Limited (BRPL) became a wholly owned subsidiary of the Company w.e.f. 31 August 2020.During the year ended on 31 March 2021 the Board of Directors at its meeting held on 23 March 2021 has approved the issue of 3012046 equity shares on preferential basis for cash consideration . Subsequent to year ended 31March 2021 the shareholders of the Company at its Extra Ordinary General meeting held on 17April 2021 has approved issue of 3012046 shares of face value of Rs. 2 each on preferential basis at price of Rs. 996 per share aggregating to Rs. 3000.00 million. The allotment of the shares of the Company has been completed on 21April 2021.Pursuant to the lockdowns by the central and state government authorities to contain the spread of COVID-19 outbreak the Company's operations and financial results for the year have been impacted. The operations gradually resumed in a phased manner with requisite precautions during the year ended 31March 2021.During the quarter ended 30 June 2021 the Company at the meeting of the Board of Directors held on 02 June 2021 has agreed to acquire 100% of shareholding of Unitop Chemicals Private Limited at an aggregate consideration of Rs. 4210 million from the existing shareholders in multiple tranches subject to completion of the customary terms and conditions.Also Subsequent to the quarter ended 30 June 2021 the Company at the meeting of the Board of Directors held on 17 July 2021 has agreed to acquire 100% shareholding of Tristar Intermediates Private Limited at an aggregate consideration of Rs. 1200.00 million from the existing shareholders in multiple tranches subject to completion of the customary terms and conditions.Further subsequent to quarter ended 30 June 2021 the Company at its meeting of the Board of Directors held on 30 July 2021 has resolved to make a strategic investment by acquiring and/or subscribing to equity shares equivalent to 50.10% of the issued and paid-up share capital of Romakk Chemicals Private Limited (Romakk) at an aggregate consideration of Rs. 75.10 million.Subsequent to the quarter ended 30 June 2021 the Company has acquired balance 40% stake in its subsidiary Rossari Personal Care Products Private Limited for aggregate consideration of Rs. 20.00 million making it a wholly owned subsidiary of the Company.

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