Rossari Biotech Ltd IPO (Rossari Biotech IPO) Detail
The IPO market is set to see its first mainboard IPO of financial year 2019-20 with Rossari Biotech Ltd IPO hitting the market with its Rs 500 crore IPO on 13 JULY.
ABOUT THE COMPANY:
Rossari Biotech Ltd is among the largest manufacturers of textile specialty chemicals in India. It also manufactures acrylic polymers. The company offers three main product categories namely home, personal care and performance chemicals; textile specialty chemicals and animal health & nutrition products. Rossari Biotech operates in 18 countries including India, Bangladesh, Vietnam, and Mauritius.
Rossari Biotech primarily operate in a business-to-business model for our home, personal care and performance products, we also sell certain of our end formulations to direct consumers under private label or in partnership with digital market platforms such as Amazon.
The business of the company is organized in three main product categories –
(i) home, personal care and performance chemicals;
(ii) textile specialty chemicals; and
(iii) animal health and nutrition products.
(1) Home, Personal care, and Performance chemicals.
They are the leading manufacturer of acrylic polymers in India (Source: F&S Report). As on 31.01.2020, the company manufacture over 300 products in the soaps and detergent, paints, inks and coatings, ceramics and tiles, water treatment chemicals, and pulp and paper industries. They also manufacture institutional cleaning chemical formulations for hospitality, facility management, airports, corporates, food service, commercial laundry, malls, multiplexes, educational sectors, places of worship, etc. They are in advanced stages of expanding to home, personal care and performance product portfolio to water treatment formulations, specialty formulation for breweries as well as dairies.
(2) Textile specialty chemicals.
They provide specialty chemicals for the entire value-chain of the textile industry starting from fiber, yarn to fabric, wet processing, and garment processing. As on January 31, 2020, manufactures and sales approximately 1,524 products for its customers in this product category.
(3) Animal health and nutrition products.
They currently supply poultry feed supplements and additives, pet grooming, and pet treat including for weaning, infants, and adult pets. They currently manufacture over 100 products for its customers in this category. They forayed into the pet grooming sub-category pursuant to its acquisition of the ‘Lozalo’ brand in Fiscal 2019. As on January 31, 2020, they have a range of 1,960 different products sold across the three product categories.
As on May 31, 2020, Company had a range of 2,030 different products sold across the three product categories.
Company is a pioneering force in the Indian specialty chemicals market and ‘Rossari’ is considered a well-known brand in this market.
HUL, IFB Industries & Arvind Ltd are some of its key customers and the firm counts Aarti Industries, Galaxy Surfactants, Atul Ltd, Vinati Organics & Fine Organics Industries as some of its listed peers.
Manufacturing and R&D Units:
Rossari Biotech Ltd manufacture the majority of the products in-house from its manufacturing facility at Silvassa in the Union Territory of Dadra & Nagar Haveli.
Rossari Biotech is currently setting up another manufacturing facility at Dahej in Gujarat with a proposed installed capacity of 132,500 MTPA which will enjoy proximity to the deep-water, multi-cargo port of Dahej.
They have two R&D facilities – one within the Silvassa Manufacturing Facility and another one in Mumbai.
Promoters of Rossari Biotech Ltd:
- Mr. Edward Menezes (Designation: Executive Chairman)
- Mr. Sunil Chari (Designation: Managing Director)
Objectives of the IPO:
1.Repayment/prepayment of certain indebtedness availed by the Company (including accrued interest);
2. Funding working capital requirements; and
3. General corporate purposes
Financials of the Rossari Biotech Ltd:
| (in Crores) | FY 17 | FY 18 | FY 19 | FY 20 |
|---|---|---|---|---|
| Revenue | 260.5 | 300.4 | 517.1 | 603.8 |
| Net Profit | 14.2 | 25.4 | 45.6 | 65.2 |
Rossari Biotech Ltd IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 13th July 2020 |
| Issue Closes on:. | 15th July 2020 |
| Issue Price | Rs.423 – 425 |
| Face Value | Rs.2 |
| Minimum Lot | 35 Shares |
| Minimum Investment | Rs.14875 |
| Issue Constitutes | 22.48% |
| Issue Size | Rs. 496.25 cr ($66 million) |
| Market Cap | Rs. 2207 cr ($294 million) |
| Listing at | NSE & BSE |
| OFS (Offer for Sale) | 1,05,00,000 |
| Fresh Issue | 11,76,470 |
| Total Equity Shares Offered (Fresh + OFS) | 1,16,76,470 |
| Equity Shares Prior to the Issue | 5,07,52,920 |
| Equity Shares after the Issue | 5,19,29,390 |
Rossari Biotech Ltd IPO Promoter Holding:
| Pre Issue Share Holding | 95.06% |
| Post Issue Share Holding | 73% |
Rossari Biotech Ltd IPO important Dates:
| Bid/Offer Opens On | Jul 13, 2020 |
| Bid/Offer Closes On | Jul 15, 2020 |
| Finalisation of Basis of Allotment | Jul 20, 2020 |
| Initiation of Refunds | Jul 21, 2020 |
| Credit of Shares to Demat Acct | Jul 22, 2020 |
| IPO Shares Listing Date | Jul 23, 2020 |
Company Contact Information
201 A – B, 2nd Floor, Akruti Corporate Park,
L.B.S. Marg, next to GE Gardens,
Kanjurmarg (W), Mumbai 400 079, India
Phone: +91-22-6123 3800
Email: info@rossarimail.com
Website: https://www.rossari.com/
Rossari Biotech Ltd IPO Registrar:
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: rossaribio.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
Rossari Biotech IPO ltd Lead Manager(s):
(1)Axis Bank Limited
111, Maker Towers ‘F’ Cuffe Parade,
Colaba,
Mumbai- 400 005, India
Website: http://www.axisbank.com
Email: axbmbd@axisbank.com
Phone: +91-22-67071425
Fax: +91-22-2216 2467
(2)ICICI Securities Limited
ICICI Centre, H.T. Parekh Marg,
Churchgate,
Mumbai 400 020
Website: http://www.icicisecurities.com
Email: subir.saha@icicisecurities.com
Phone: +91 22 6637 7178
Fax: +91 22 6637 7178
Rossari Biotech Ltd IPO Prospectus:
CLICL HERE Rossari Biotech Ltd IPO DRHP
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