Rossari Biotech Marks Robust Debut On Stock Market. Should You Invest? Find Out Here

The ₹496-crore IPO of Rossari Biotech was subscribed a whopping 79.37 times and garnered a massive response from investors.

IPO (Representational Image)

New Delhi, July 24: After a prolonged gap, the IPO market witnessed a new listing as the Rossari Biotech, a specialty chemical maker, made its debut on the stock exchanges on Thursday. On BSE, Rossari Biotech shares were listed at ₹670 and it climbed 60 per cent as compared to issue price of ₹425 per share. The stock jumped to touch the day's high at ₹699. The ₹496-crore IPO of Rossari Biotech was subscribed a whopping 79.37 times. Also Read: Now, Put Recurring Payments On Auto Mode Of Up To Rs 2,000 Through UPI App The price range for the offer was fixed at ₹423-425 per share, as per the business daily Mint. On Friday, the shares are trading at Rs 754.25 and soared 1.60 per cent. The company made a successful debit but the premium was much higher than expectations. What should you do if you are interested? It is one of the leading textile and specialty chemical manufacturers with over a decade of experience in the industry and witnessed innovation, agile and rapid growth. The company provides customized solutions to the industrial and production requirements of our customers through our diversified product portfolio. The company has come up with a new manufacturing unit at Dahej in Gujarat with a proposed installed capacity of 1,32,500 MTPA. It is expected to double its capacity by March 2021 and improve revenue growth even further. As the stock has been listed at a hefty premium, analysts suggest booking profits now. Experts opine that if the stock lists at more than 40 per cent premium then investors can book partial profit. However, if you are a moderate investor and want to enjoy the listing gains can book profits but high-risk investors may hold the stock for long. If you are interested in the stock then but it only around Rs 500 and not go with the current price of Rs 700. However, stocks are always subject to risk. So better to read more about the company and its financials before you opt to click the buy button.