Looking for IPOs in pandemic, here is the IPO for you
After a long time period of almost more than three months since the last IPO was launched, now Rossari Biotech is preparing for launch IPO.
The company was founded in 2003 in Mumbai and has specialty in making chemicals. Initially, the company was going to launch IPO in 18th of March, 2020 but due to the market condition the company postponed the idea.
Since, the COVID-19 pandemic has created a huge additional demand for personal and health care products, so it boosted up the business of companies engaged in producing such products and raw materials. According to a stakeholder of the company, the company is going to launch an IPO of around Rs 300 crore.
IPOs are generally gain its importance in the sound business environment and may not be preferred in unfavourable market conditions. The long and widespread lockdown due to the coronavirus pandemic has pulled the IPO section of the market back, but now a gradual rally of the market can be seen and this will lead to the further announcement of the IPOs by various companies. According to the database, 31 companies had approval of launching IPO as on June 26, 2020 and soon we will be able to purchase these IPOs of hotel, tourism, financial and assets management companies.