Rosmerta Delays Landmark SME IPO Amid Market Volatility

Rosmerta Digital Services has postponed its planned Rs 206-crore initial public offering, which was to be the largest for an SME. The decision comes amid weak market conditions. No revised launch date has been set for the offering, meant to be listed on the BSE SME platform.

Rosmerta Digital Services has announced a delay in its much-anticipated Rs 206-crore initial public offering (IPO) originally set for November 18. This IPO was expected to be the largest ever for a small and medium enterprise (SME).

The decision to postpone comes as a result of unfavorable equity market conditions, marked by a continuous withdrawal from foreign portfolio investors and lackluster earnings reports. The company has not indicated a new timeline for the IPO launch.

The IPO was intended as a complete fresh issue of 140.36 lakh equity shares, aimed to be marketed on the BSE SME platform with a price band set between Rs 140-147 per share.

(With inputs from agencies.)