Rossari Bio wins Sebi approval for Rp7bn IPO

Pharmaceutical 230x150
By Jonathan Breen
25 Feb 2020

India's market regulator has given Rossari Biotech the nod for an IPO that is expected to raise about Rp7bn ($98m).

The Indian chemical manufacturer received "observations" from the Securities and Exchange Board of India last week, equivalent to approval.

Rossari is floating a mix of Rp1.5bn in fresh equity and 10.5m secondary shares. Promoters Sunil Srinivasan Chari and Edward Walter Menezes are providing 5.25m shares each.

Axis Capital ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial