Rossari IPO India’s first to defy lockdown

Rossari Biotech

Shardul Amarchand Mangaldas & Co (SAM) advised Rossari Biotech on its recent ₹4.96 billion (US$66 million) initial public offering (IPO) – the first in India since the 24 March lockdown – which was oversubscribed nearly 80 times.

J Sagar Associates (JSA) was the legal adviser on Indian law for the two book running lead managers (BRLMs), Axis Capital and ICICI Securities, while Squire Patton Boggs Singapore was international legal counsel to the BRLMs.

In a comment to India Business Law Journal, Prashant Gupta, the national practice head for capital markets at SAM, said it was “great to see the first IPO post the pandemic in India doing so exceptionally well”.

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