Rosary Biotech's IPO opens from today, know what the experts on investment strategy say

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After about four months in the market, a company has brought its IPO. The IPO of Rossari Biotech, a specialty chemicals manufacturer, has opened today. The company has an IPO size of Rs 500 crore.

Earlier in March, SBI Card & Payment Services brought its IP.

In fact, the stock market was fluctuating due to Coronavirus, after which the Securities and Exchange Board of India had approved to issue an IPO but the companies were hesitating to get an IPO. Now almost four months later, there is an IPO in the market.

Rosary Biotech has raised about Rs 149 crore from its major investors before the IPO. Rosary Biotech Company has given information about its major investors, these companies include

Abu Dhabi Investment Authority HDFC Mutual Fund Axis Mutual Fund ICACI Prudential Mutual Fund SBI Mutual Fund Sundaram Mutual Fund HDFC Life Insurance Company Goldman sash India

The company said that it has allocated 35,02,940 shares to 15 major investors at Rs 425 per share. The company will allocate shares worth Rs 50 crore and sell 1,05,00,000 equity shares of promoters through Offer for Sale.

The company has priced its stock at Rs 423-425. Here you can invest between July 13-15. If you have to invest in this company, then you have to buy at least 35 shares of the company, for which you will have to invest Rs 14,805-14,875.

Experts' opinion on investment strategy Kishor Ostwal, CMD of CNI Research, says that if general investors are getting other stocks at a lower price, then there is no need to be so rash for an IPO. At the same time, Director of Wealth Discovery Rahul Aggarwal says that no IPO has come from the last four months, if the profile of the company is seen then it can be invested here.

When it comes to the company, Rosary Biotech is a specialty chemical manufacturer. The company manufactures products related to domestic and personal needs, textiles, performance and animal health and nutrition. Apart from India, the company has an expansion in 17 states including Vietnam, Mauritius, and Bangladesh.

Axis Capital and ICICI Securities are the merchant banks of this share. The company has stated that the proceeds from the IPO will be used for meeting working capital requirements, payment of a debt, and other works.