Subscribe to Rossari Biotech: Emkay Global Financial
Emkay Global Financial Rossari Biotech is planning to raise ~Rs4.95bn through a mix of fresh issue (Rs500mn, 1.17mn shares) combined with Offer for Sale (OFS) route (~Rs4.45bn, 10.5mn shares), to the public.
Emkay Global Financial’s IPO report on Rossari Biotech
Rossari Biotech is planning to raise ~Rs4.95bn through a mix of fresh issue (Rs500mn, 1.17mn shares) combined with Offer for Sale (OFS) route (~Rs4.45bn, 10.5mn shares), to the public. Management plans to utilize the capital raised for: 1) repaying debt of ~Rs650mn, and 2) supplement future working capital requirements of ~Rs500mn.Total borrowings were ~Rs600mn in FY20 vs. ~Rs40mn in FY19.
Valuation and Outlook
The new capacity expansion at Dahej (132ktpa) should strengthen its portfolio in the high-growth HPPC segment to serve its wide customer base. Customized product offering, fungible capacities and rapid finished product conversion rate remain the key differentiators for the comp.
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First Published on Jul 13, 2020 06:07 pm