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A leading specialty chemical maker company, Rossari Biotech has received approval from the Sebi for its new initial public offering (IPO). The company in December had filed DRHP with the market regulator. The IPO comprises a fresh issue of Rs 150 crore. It offers for sale 1,05,00,000 equity shares of a face value Rs 2 each. There are two leading managers for the share sale- ICICI Securities and Axis Capital.