Rossari Biotech to launch Rs 500 cr initial public offering on Monday

Rossari has reduced the fresh issue component from Rs 150 crore to Rs 50 crore

Rossari Biotech, a specialty chemicals company, will launch its Rs 500-crore initial public offering (IPO) on Monday, ending a four-month lull in the primary market. The last IPO to hit the domestic market was that of SBI Cards and Payment Services in early March. The Covid-19 pandemic and the economic lockdown have forced many companies to hold back their IPO plans despite regulatory clearances. Rossari had intended to launch its IPO in March only, but decided to postpone the plan.

The company on Wednesday conducted media and analyst meetings through the video-conferencing service Zoom.