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Goldman Sachs India ups stake by nearly 1% in Rossari Biotech post listing

Goldman Sachs India ups stake by nearly 1% in Rossari Biotech post listing

Goldman Sachs India ups stake by nearly 1% in Rossari Biotech post listing
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By Mousumi Paul  Jul 24, 2020 2:31:38 PM IST (Updated)

Goldman Sachs acquires an additional stake in the specialty chemicals manufacturer. On Thursday, the global investment banker bought 4,81,433 equity shares (0.92 percent stake) in Rossari Biotech at Rs 692.17 per share.

Goldman Sachs India has bought an additional 0.92 percent stake or 4,81,433 equity shares in Rossari Biotech at Rs 692.17 apiece, showed bulk deals data on the NSE on Thursday. The specialty chemicals manufacturer made a stellar debut on bourses on Thursday receiving strong interest from the retail investors as well as the anchor investors. After rallying about 75 percent over its issue price, the global investment banker acquired the additional nearly 1 percent stake.

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The Rossari Biotech stock rose as much as 7 percent intraday to Rs 793.90 per share. At 1:34 pm, the shares traded 2.06 percent to Rs 756.95 on the NSE. Given the higher end of the IPO price band, the deal was struck at nearly 63 percent premium over its issue price.
On July 10, Goldman Sachs had bought 1,95,271 equity shares at an issue price of Rs 425 through the anchor book. In fact, the company raised Rs 148.87 crore from anchor investors. The company allotted 35.02 lakh shares to a total of 15 anchor investors, including 12 mutual funds, through 48 schemes.
Other anchor investors include Abu Dhabi Investment Authority, HDFC Mutual Fund, Axis Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund and HDFC Life Insurance Company.
Rossari Biotech provides customised solutions to specific industrial and production requirements of customers primarily in the FMCG, apparel, poultry and animal feed industries, already has an installed capacity of 1,20,000 MTPA at Silvassa which was the only manufacturing facility.
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