Rossari Biotech unlisted shares demand 35% premium in grey market

Rossari Biotech are one of the leading specially chemicals manufacturing companies in India providing customized solutions to specific industrial and productin.

As Rossari Biotech gears up to launch its initial public offering (IPO) on Monday, unlisted shares of the company are demanding up to 30-35 per cent premium over the IPO price in grey market or unofficial market for trading in unlisted shares.

The company has fixed the price band of the issue at Rs 423-425. Grey market traders are expecting the issue to list at a hefty premium.

In the Pre-IPO market, premium on the shares shot up to Rs 140 on Wednesday, July 8, from Rs 20 on Monday, July 6. Traders are expecting the premium to rise further till issue closes for subscription.

Narottam Dharawat of Dharawat Securities, a Mumbai based firm that deals in unlisted shares, said the premium is rising as the IPO is inching closer. “It is likely to move northward in the next few days,” he said.

It is the first IPO after the Covid-19 outbreak sent the equity market haywire and stalled companies’ plans to raise fresh capital. Rossari had held up the issue in March amid the pandemic scare.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience .

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

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