Rossari Biotech files papers for Rs 700-crore IPO
The issue will comprise a fresh issue of Rs 150 crore and OFS of up to 1.05 crore shares.
By ETMarkets.com |
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NEW DELHI: Rossari Biotech, a specialty chemical manufacturer, on Wednesday filed Draft Red Herring
Prospectus (DRHP) for its initial public offer (IPO).
The company seeks to raise around Rs 700 crore, sources said. The issue will comprise fresh issue of Rs 150 crore and an offer for sale (OFS) of up to 1.05 crore shares by promoting shareholders.
The company may also consider a private placement of equity shares aggregating up to Rs 100 crore, as per the DRHP filed with the markets regulator Sebi. If the pre-IPO placement is undertaken, the amount will be reduced from the fresh issue.
Rossari Biotech intends to utilise the funds for capex and payment of debts.
ICICI Securities and Axis Capital are lead managers for the share sale.
Some of the significant customers for its textile specialty chemical products category include Arvind, Raymond, Ashnoor Textile Mills, Bhaskar Industries, European Textile Chemical and Shahi Exports.
The company operates in India as well as in 17 foreign countries, including Vietnam, Bangladesh and Mauritius.
Prospectus (DRHP) for its initial public offer (IPO).
The company seeks to raise around Rs 700 crore, sources said. The issue will comprise fresh issue of Rs 150 crore and an offer for sale (OFS) of up to 1.05 crore shares by promoting shareholders.
The company may also consider a private placement of equity shares aggregating up to Rs 100 crore, as per the DRHP filed with the markets regulator Sebi. If the pre-IPO placement is undertaken, the amount will be reduced from the fresh issue.
Rossari Biotech intends to utilise the funds for capex and payment of debts.
ICICI Securities and Axis Capital are lead managers for the share sale.
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Rossari Biotech provides customised solutions to specific industrial and production requirements to its customers primarily in the FMCG, apparel, poultry and animal feed industries. Some of the significant customers for its textile specialty chemical products category include Arvind, Raymond, Ashnoor Textile Mills, Bhaskar Industries, European Textile Chemical and Shahi Exports.
The company operates in India as well as in 17 foreign countries, including Vietnam, Bangladesh and Mauritius.
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