GC
Rossari Bio wins Sebi approval for Rp7bn IPO
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.
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