Rossari Biotech raises Rs 148.87 cr from anchor investors; top 3 MFs key investors

Three fund houses invested Rs 14 crore each in their various schemes.

ETtech
Rossari Biotech intends to raise Rs 496.24 crore via the fresh issue of Rs 50 crore and offer for sale (OFS) of Rs 446.25 crore.
Mumbai: Specialty chemicals maker Rossari Biotech said on Friday it has raised Rs 148.87 crore from anchor investors, and the top three fund houses of the country – SBI Mutual Fund, HDFC Mutual Fund and ICICI Mutual Fund – were among the top investors.

The three fund houses – SBI Mutual Fund, HDFC Mutual Fund and ICICI Mutual Fund, invested Rs 14 crore each in their various schemes. Apart from these, Ashoka India Opportunities Fund and Nippon India Small Cap Fund also invested Rs 14 crore each in the company.

Other investors included Abu Dhabi Investment Authority, Axis Mutual Fund, Goldman Sachs India, HDFC Life Insurance Co, HSBC Global Investment Funds, IIFL Special Opportunities Fund - Series 4, Kotak Mahindra (International) , Malabar India Fund, Mirae Mutual Fund and Sundaram Mutual Fund.


Rossari Biotech IPO


Rossari Biotech intends to raise Rs 496.24 crore via the fresh issue of Rs 50 crore and offer for sale (OFS) of Rs 446.25 crore.

The price band for the IPO has been set at Rs 423-425 a piece. The issue will open on July 13.
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The net proceeds from the fresh issue to prepay or repay certain indebtedness, including accrued interest, fund working capital requirements and for general corporate purposes, the company said.

Axis Capital and ICICI Securities are the book running lead managers to the offer and Axcelus Finserv Private is the advisor to the offer.



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