HNIS look to break even

Rossari Biotech will make its stock market debut this week following a hugely successful IPO, which saw 80 times subscription. While the stock is expected to do well on debut, it remains to be seen if high net-worth individuals (HNIS) will break even. Wealthy investors have placed leveraged bets worth nearly ~18,000 crore. After factoring in the interest cost, HNIS will make money on the IPO only if shares list at a premium of more than 30 per cent. While grey market activity had indicated that the stock will list at that premium, any change in market sentiment could alter the equation.