ROSSARI BIOTECH: ROSSARI BIOTECH ANALYSIS: ROSSARI BIOTECH REVIEW: ROSSARI BIOTECH IPO
Channel: Value Invest India
Date: 15/07/2020

Title of this video- ROSSARI BIOTECH: ROSSARI BIOTECH ANALYSIS: ROSSARI BIOTECH REVIEW: ROSSARI BIOTECH IPO

Hello Friends, 
Rossari Biotech Limited was incorporated on 10 August, 2009 and is located in Mumbai City, Maharashtra. It is classified as a public limited company.

The company Manufacturess and exporters of textile chemical auxiliaries, enzymes, polymers and animal health care products.
Textile chemical auxiliaries, enzymes, polymers and animal health care products.
Rossari Biotech Limited's operating revenues range is Over INR 500 cr for the financial year ending on 31 March, 2019. It's EBITDA has increased by 74.14 % over the previous year. At the same time, it's book networth has increased by 39.06 %.

SIMILAR COMPANIES

Aarti Industries, Vinati Organics, Atul Ltd., Galaxy Surfactants, Fine Organics, S.S. ORGANICS LTD, KESAR ENTERPRISES LIMITED, THIRUMALAI CHEMICALS LIMITED, UNICORN ORGANICS LIMITED, VINATI ORGANICS LIMITED, NAVA BHARATH FERTILIZERS LIMITED, SHAKAMBARI AROMATICS PRIVATE LIMITED, COROMANDEL SQM (INDIA) PRIVATE LIMITED, SHEENLAC NOROO COATINGS INDIA PRIVATE LIMITED, PRIYA BLUE INDUSTRIES PRIVATE LIMITED.

Rossari Biotech Rs 500-crore IPO floating on July 13; here's all you need to know

The IPO consists of a fresh issue and an offer-for-sale by its two promoters-Edward Menezes and Sunil Chari. Currently, Edward Menezes and Sunil Chari hold 42.10% and 42.05% stake as promoters of the company, while the public shareholding stands at 4.9%.

This would be the first IPO since SBI Cards and Payment Services. 

Here are the top ten things to know before investing in Rossari Biotech's IPO

About the IPO

The IPO comprises fresh issue of shares to the tune of Rs 150 crore and sale of more than 1 crore equity shares by the company's promoters through offer-for-sale route. The issue size is expected at around Rs 494-Rs 496 crore. The face value of each share is Rs 2. Company's market capitalisation is pegged at Rs 2,200 crore.

Promoter holding

The IPO consists of a fresh issue and an offer-for-sale by its two promoters-Edward Menezes and Sunil Chari. Currently, Edward Menezes and Sunil Chari hold 42.10% and 42.05% stake as promoters of the company, while the public shareholding stands at 4.9%.
Where Sunil Chari is the Promoter and Managing Director, Edward Menezes is the Promoter and Executive Chairman of the company.

Pre-IPO placement

As per company's red herring prospectus (RHP), Rossari Biotech has raised Rs 100 crore in a pre-IPO placement in March with Malabar India Fund, White Oak, Kotak Infina, Axis AMC, Mirae Asset, Sundaram Mutual Fund, IIFL and ICICI Lombard General Insurance.

Fundamentals

Rossari Biotech's debt-equity ratio stood steady at 0.23 across FY2018-2020, the company said in its DHRP. The company generated total revenues of Rs 603.80 crore and a net profit after tax of Rs 65.25 crore.

Client base

Rossari Biotech operates in India as well as in 17 foreign countries including Vietnam, Bangladesh and Mauritius. As on September 30, 2019, it is the largest manufacturer of textile speciality chemicals in India. Rossari Biotech has a pan-India distribution network through 204 distributors and 17 countries through 29 distributors.

Company operations

Rossari Biotech manufactures the majority of its products in-house from their manufacturing facility at Silvassa in the Union Territory of Dadra & Nagar Haveli. It has 2 R&D facilities-one within the Silvassa Manufacturing Facility and second in Mumbai.
Robust management and sound corporate governance policy will drive growth going forward and this is already visible in its current return ratios (ROCE 25% and RONW of 32% in FY20)."

Merchant bankers

Axis Capital and ICICI Securities are the merchant bankers.

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