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Stocks To Buy: Rossari Biotech IPO – Anil Singhvi reveals where gains are; public issue open from today

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Stocks To Buy: Mumbai-based Rossari Biotech IPO has opened for subscription today and will remain so till July 15, 2020. Significantly, for market participants, this is the first Initial Public Offering (IPO) since the coronavirus pandemic began. Should investors put their money on this stock? Zee Business Managing Editor Anil Singhvi tells what investors should do.

The Market Guru suggested that investors can buy this stock as the company is into textiles and specialty chemical manufacturing – a sector which is currently in focus. There is a lot of excitement in this sector which will only grow with the coming of a new player even though there are other companies which appear more attractive than Rossari Biotech.

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The Rossari Biotech IPO has its own charm and this public issue can help investors make some quick money, he said. The company’s performance may likely go up after the IPO, he further said.    

Rossari Biotech plans to raise Rs 500 cr from the IPO. The lot size is 35 and the minimum investment required will be Rs 14875. The Managing Editor said that, investors should take a chance and buy into the Rossari Biotech IPO.

Singhvi said that the stock can be a viable investment options because of a variety of reasons. The important ones among these are – the company is good with business interest in an important sector; the sector is also in focus as of now and the anchor book comprises of good investors.

There is a money making opportunity at the time of listing of the stock. The stock could be bought with a medium term view and also for short positions.

The gains will be reasonable. A listing with 15-20 per cent gains is reasonable. In case of a market collapse, there are risks, but that can be overcome with a medium term perspective, he said.  

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Rossari Biotech price band is fixed at Rs 423-425 per equity share. Investors can bid in lot sizes of 35 shares.



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