Rossari Biotech Ltd, which is doing a capital raise of Rs. 500 Crores is the first company to have a virtual press conference followed by an analysts & brokers Conference for announcing its IPO which opens for subscription on Monday, July 13, 2020. The virtual conference had over 1,000 registrations and was simultaneously broadcasted for investors.
This is the first IPO to hit the Indian capital markets after a hiatus of four months. Activity in the capital markets came to a grinding halt during the lockdown period due to the COVID-19 outbreak. The market volatility in the first quarter of the current fiscal also led to a host of companies postponing their capital raising programs. SEBI has extended its approvals of offer documents by a period of six months to accommodate companies who had already had their documents cleared.
“The Rossari webinar press meet was a unique experience – such an effective way to communicate the story to the media from the confines of your home/office and get access to the entire domestic and even international media audience. I think this will soon become the new norm in future- when we use technology to just enhance efficiency of every activity,” said Salil Pitale, Axis Bank, Jt MD and Co CEO.