Rossari Biotech IPO
Rossari Biotech Limited (ROSSARI) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 23 July 2020.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +34.9% (likely range +8% to +67%), day's high +46.0%, chance of a gain 97%. Actual: +57.5% at the open, +89.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 23,35,294 | 19,91,14,615 | 85.3x | |
| NII (HNI) total | 17,51,471 | 42,00,59,220 | 240x | |
| Retail | 40,86,765 | 2,95,59,810 | 7.23x | |
| Total | 81,73,530 | 64,87,33,645 | 79.4x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 3% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Rossari Biotech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Thyrocare TechnologiesApr 2016 | 73.2x | 225x | 8.73x | 73.5x | ₹479 Cr | +49.1% | +49.1% |
| RBL BankAug 2016 | 85.1x | 198x | 5.70x | 69.6x | ₹1,219 Cr | +21.9% | +35.8% |
| Affle IndiaJul 2019 | 55.3x | 199x | 11.0x | 86.5x | ₹457 Cr | +24.3% | +28.7% |
| Reliance Nippon Life Asset ManagementOct 2017 | 118x | 209x | 5.65x | 81.5x | ₹1,542 Cr | +17.4% | +18.6% |
| Godrej AgrovetOct 2017 | 151x | 236x | 7.67x | 95.4x | ₹1,180 Cr | +33.8% | +37.0% |
| S Chand and CompanyApr 2017 | 44.3x | 205x | 6.07x | 59.5x | ₹737 Cr | +4.5% | +4.5% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
Offer documents (NSE)
Frequently asked
What is the Rossari Biotech IPO price band and lot size? ₹423–425 per share, with a lot of 35 shares, so the smallest retail bid is ₹14,875.
How many times has it been subscribed? 79.4x overall: QIB 85.3x, NII 240x, retail 7.23x.
How did it list? It opened at ₹669, +57.5% against the issue price of ₹425, and closed its first day +74.5%.
