Rossari Biotech, one of only two firms to go for an initial public offer (IPO) in this calendar year, made a bumper stock market debut on Thursday, getting listed at Rs 669.25 per share on the National Stock Exchange (NSE), up 57.47 per cent from its offer price of Rs 425.00 apiece.
On the BSE, the Rossari Biotech scrip was listed at Rs 670.00 apiece, up 57.65 per cent from the issue price.
The stock eventually settled at Rs 752.00 apiece on NSE, registering a whopping 76.94 per cent jump from the issue price, while on BSE, it ended at Rs 742.35, gaining 74.67 per cent. During the day, the stock had hit a high of Rs 803.10 on NSE and Rs 804.00 on the BSE, while on the lower side, it hit a low of Rs 664.00 on the NSE and Rs 663.55 on the BSE.
Over 3.57 crore shares of Rossari Biotech were traded on the NSE, while over 30.27 lakh shares exchanged hands on the BSE during the first day of trade, data from the respective stock exchanges showed.
The Rs 496-crore IPO of Rossari Biotech was subscribed a whopping 79.37 times during the offer period till July 15, 2020. The price range for the Rossari Biotech IPO was fixed at Rs 423-425 per share.
Rossari Biotech is a speciality chemicals manufacturing company having a focus on home and personal care, performance chemicals, textile speciality chemicals and animal health and nutrition products.
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