Rossari Biotech shares soar 75% on debut on the back of huge demand

The last company to list following an IPO was SBI Cards on March 16

Shares of the company ended at Rs 742.4, with a gain of 74.7 per cent over its issue price of Rs 425 per share on the BSE.

Rossari is the first company to list during the lockdown and the second to debut after SBI Cards & Payment Services IPO on March 16 this year.

Since then the market has seen V-shaped recovery — first plunging nearly 40 per cent and then recouping entire losses.

Market players said Rossari’s strong debut on the bourses will be a sentiment booster for companies waiting in the wings to launch their IPOs.

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