₹425 per share, the price at which a pre-IPO placement was done in March, is expected to open 13 July and close two days later, according to sources familiar with the development.The company has received the final approval of the Registrar of Companies for its listing.The IPO of SBI Cards and Payment Services, which closed on 5 March, was the last issue to hit the capital market.
The imposition of a lockdown 22 March onwards to prevent the spread of coronavirus ensured that no company came to raise any equity from the public in this period.Rossari had raised ₹100 crore in pre-IPO placement of shares with Malabar India Fund, White Oak, Kotak Infina, Axis AMC, Mirae Asset, Sundaram Mutual Fund, IIFL and ICICI Lombard General.