Rossari Biotech IPO was open for bidding between July 13-15, and it was oversubscribed by 79 times.- A chemical manufacturing company based out of Mumbai,
Rossari Biotech recently announced that it is hiring, stating that it is growing manifold and needs manpower. - The Rossari Biotech IPO grey market premium is currently hovering above 40%, which suggests there could be a blockbuster listing on the cards.
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Rossari Biotech has an issue price of ₹425. However, the stock is already hot in the grey market. It is currently hovering in the range of ₹585-600, which suggests a grey market premium of up to ₹160-180 per share. This is an upside of over 40% over the issue price.
Rossari Biotech grey market premium – blockbuster listing on the cards?
Grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s share. It’s not an official measure, though, but it shows whether there is enough demand for a share in the market.
If the grey market premium on Rossari Biotech is anything to go by, the shares of the company could list at around ₹600, which is an upside of ₹175 over the issue price.
Overall, the Rossari Biotech IPO has been oversubscribed by 79 times, with non-institutional investors leading the charge, oversubscribing by almost 240 times.
Non-institutional investors are those who bid more than ₹2 lakh in an IPO.
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