@Investor_No_1 @atul1082 @Ajjugattu I agree Chemicals is a THE hot sector now post COVID… but they didn’t actually plan to launch this IPO now. They were actually planning to launch in late March when things were okayish-to-good for Chemical sector (but not as good vs what we have right now).
We also need to think that In pre-IPO offer in Feb, 15 marquee investors (Malabar, Mirae, Axis etc.) invested into Rossari at same Rs 425 price at even higher valuations vs. what we have right now. (https://www.vccircle.com/adia-sumeet-nagar-s-hedge-fund-among-anchor-investors-in-rossari-biotech-s-ipo/)
Since management looks clean to me (I invite everyone to look for red flags in Rossari coz I didn’t find anything meaningful), I will believe what management has said ie. 100% additional capacity at Dahej will be good enough to take care of growth for 3-4 years. This implies 15-20% topline growth with increased margins (as seen in the last 3 years due to higher contribution from HPCC segment which looks to be a higher margin business) and slightly higher bottom line growth which might have an upside risk due to further efficiency from newly built Dahej plant.
Sharing my thought process here for constructive criticism from fellow VP’s while still searching for negatives on corporate governance or on any business segments.